BRVM Composite index records slight decline after hitting new peak

AFRICAN STOCKS AND FINANCEMay 30, 2024 at 2:25 PM UTC

TLDR

BRVM Composite index marginally dipped to 226.07 points, hitting a peak at 226.12 points.
BRVM 30 index slightly decreased to 113.42 points, while BRVM Prestige index appreciated to 105.11 points.
Decline attributed to underperformance of stocks like CFAO Motors CI and BOA Niger, with 19 stocks down and 11 up.

The BRVM Composite index experienced a marginal dip of 0.02%, closing at 226.07 points on Wednesday after hitting a new peak at 226.12 points during the trading session.

The BRVM 30 index also saw a slight decrease of 0.01%, settling at 113.42 points, while the BRVM Prestige index showed a modest appreciation of 0.17%, reaching 105.11 points.

The market's slight decline was primarily driven by the underperformance of stocks like CFAO Motors CI (-5.41% to 700 FCFA) and BOA Niger (-6.86% to 5,605 FCFA), alongside a negative balance of variations with 19 stocks down compared to 11 up.

Key Takeaways

During the session, top-performing stocks included Setao (+6.76% at 790 FCFA), Nei-ceda (+6.67% at 800 FCFA), and Tracfitic Motors CI (+2.00% at 2,300 FCFA). On the flip side, Uniwax (-6.98% at 400 FCFA), Air Liquide (-6.92% at 605 FCFA), and BOA Niger experienced the most significant declines. Notably, Nei-ceda shares reached their highest level since the year began, largely due to a dividend yield exceeding 10%. The total volume of transactions for the session amounted to 438.76 million FCFA.

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