BRVM main index declines marginally under weight of Onatel, Sonatel
TLDR
- BRVM market witnessed 15 increases and 13 decreases, with total transaction volume reaching 488.71 million FCFA last week.
- Major market indices like BRVM Composite, BRVM 30, and BRVM Prestige saw declines due to losses in key stocks such as Onatel, Sonatel, and CFAO Motors CI.
- Despite gains, market indices like BRVM Composite dropped by 0.07%, BRVM 30 by 0.23%, and BRVM Prestige by 0.30% reflecting a downward trend in the market.
The BRVM market last week witnessed 15 increases and 13 decreases, with a total transaction volume of 488.71 million FCFA, marking a significant increase from the previous day's 144 million FCFA.
Despite the prevalence of gains, major market indices, including the BRVM Composite (-0.07% to 211.92 points), BRVM 30 (-0.23% to 106.59 points), and BRVM Prestige (-0.30% to 98.83 points), experienced declines.
This downward trend was primarily attributed to losses incurred by key stocks such as Onatel (-7.47% to 2,105 FCFA), Sonatel (-0.47% to 17,810 FCFA), and CFAO Motors CI (-5.16% to 735 FCFA), which significantly influenced market capitalization.
Key Takeaways
The worst-performing stocks for the week included Uniwax and Tractafric Motors Cl, while top gainers for the session were Bicici (+7.38% to 7,350 FCFA), Vivo Energy Cl (+6.99% to 765 FCFA), and Oragroup (+6.74% to 2,295 FCFA). Despite the positive financial performance announcement from BOA for the year 2023, with profits up 30%, the stock experienced a slight decline (-0.41% to 7,250 FCFA). In terms of trading activity, Sonatel, Onatel, and Sitab (+1.61% to 6,300 FCFA) were the most actively traded stocks, with transactions totaling 160.81 million FCFA, 89.52 million FCFA, and 63.18 million FCFA, respectively.