BRVM Benchmark Stock Index Hits 9-Year High Amid Sustained Rally
TLDR
- West Africa’s BRVM stock market continued its upward trend on Thursday, with the benchmark composite index climbing 0.74% to 300.38 points—its highest level since July 2016
- This marks a symbolic milestone, as the equity market’s capitalization reached 11.6 trillion FCFA ($19.8 billion), surpassing that of the regional bond market for the first time
- Other indices also posted gains on the day, with the BRVM-30 rising 0.62% to 151.22 points and Prestige up 0.93% to 124.52 points
West Africa’s BRVM stock market continued its upward trend on Thursday, with the benchmark composite index climbing 0.74% to 300.38 points—its highest level since July 2016. This marks a symbolic milestone, as the equity market’s capitalization reached 11.6 trillion FCFA ($19.8 billion), surpassing that of the regional bond market for the first time.
Other indices also posted gains, with the BRVM-30 rising 0.62% to 151.22 points and Prestige up 0.93% to 124.52 points. The gains were driven by strong performances from financial and industrial stocks. Ecobank rose 5.33% to 11,060 FCFA, adding 30.8 billion FCFA in market capitalization and ranking among the top performers.
Sitab climbed 7.48% to 14,655 FCFA, crossing the 14,000 FCFA mark for the first time. BICI followed closely, up 7.42% to 15,850 FCFA. Decliners included Uniwax (-6.99%), Bernabe (-3.75%), and Nei-Ceda (-3.33%). Total trading volume reached 1.34 billion FCFA, led by Orange (20.16% of transactions) and Sonatel (23.09%), reflecting the high liquidity of market heavyweights.
Key Takeaways
The BRVM’s recent performance reflects renewed investor confidence, driven by improving earnings across key sectors and increasing interest in equities over fixed income. The crossing of the 300-point mark on the composite index and market cap overtaking the bond market suggest a reallocation of capital into higher-yielding, growth-linked assets. Market momentum has been supported by consistent gains in financials like Ecobank and dividend-yielding stocks like Sitab and BICI. These stocks continue to attract institutional and retail investors amid relatively stable monetary conditions in the WAEMU region. The volatility in trading volumes—1.34 billion FCFA after 1.29 billion the day before—shows active rotation and short-term positioning. With large caps like Sonatel and Orange dominating turnover, liquidity remains concentrated but deep enough to support continued upward movement. Investors will be watching for sustainability in earnings and dividend announcements as catalysts to maintain market strength and potentially push the BRVM to new multi-year highs.
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