BRVM main index crosses 230 points in extended bull run

AFRICAN STOCKS AND FINANCEJune 23, 2024 at 5:48 PM UTC

TLDR

BRVM stock market rebounds with unprecedented level after two consecutive declines, Composite index reaches 230.30 points in six years.
Equity market capitalization hits historic 8.6 trillion FCFA, exceeding $14 billion mark.
Strong performances from Orange CI, NSIA Banque CI, and Société Générale CI drive market recovery.

After two consecutive declines, the BRVM stock market rebounded on Thursday, reaching an unprecedented level. The Composite index rose by 0.89% to 230.30 points, crossing the 230 points mark for the first time in six years.

That brought the equity market capitalization to a historic 8.6 trillion FCFA (over $14 billion). Similarly, the BRVM 30 increased by 0.94% to 115.01 points, and the BRVM Prestige rose by 1.08% to 109.25 points.

The market recovery was driven by the strong performances of Orange CI (+1.64% to 11,790 FCFA), NSIA Banque CI (+5.33% to 6,230 FCFA), and Société Générale CI (+1.22% to 20,810 FCFA). BOA SN also saw a 6.61% increase, reaching 4,275 FCFA, its highest level in the last nine years.

Key Takeaways

The BRVM stock market has been on an impressive run, marked by significant gains and a historic rise in market capitalization, reflecting investor confidence and robust market performance. This upward trajectory offers several advantages for investors. Firstly, investing in the BRVM allows access to diverse high-performing stocks such as Orange CI, NSIA Banque CI, and Société Générale CI. Also, the market's resilience and growth potential provide opportunities for substantial returns. As the West African economy continues to expand, investing in the BRVM can be a strategic move for those looking to capitalize on regional economic growth and stability.

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