BRVM stock market closes negative over Orange, Sonatel declines

AFRICAN STOCKS AND FINANCEJune 18, 2024 at 8:33 PM UTC

TLDR

BRVM stock market fell on Monday, with Orange CI and Sonatel underperforming, causing the overall market decline.
Oragroup saw a significant increase, marking its third consecutive gain, along with Nestlé CI and Vivo Energy performing strongly.
Benchmark BRVM Composite index dropped by 0.23%, BRVM 30 index declined by 0.38%, while BRVM Prestige index rose by 1.25%.

After reaching a six-year high last Friday, the BRVM stock market closed Monday's trading session on a downward trend, primarily due to the underperformance of Orange CI (-2.04% to 11,505 FCFA) and Sonatel (-0.16% to 19,300 FCFA).

The benchmark BRVM Composite index dropped by 0.23% to 228.35 points, and the BRVM 30 index declined by 0.38% to 113.82 points. In contrast, the BRVM Prestige index rose by 1.25% to 109.07 points.

Despite the overall market decline, Oragroup saw a notable increase of 5.43% to 1,845 FCFA, marking its third consecutive gain. Other strong performers included Nestlé CI, which surged by 6.67% to 7,995 FCFA, and Vivo Energy, which increased by 5.81% to 820 FCFA.

Key Takeaways

At the end of today's trading session on the BRVM Stock Exchange, a total of 305,818 shares were traded, amounting to a market value of XOF 454,947,155. This represents a 96% increase in volume and a 62% increase in turnover compared to the previous trading day (Friday, June 14). The current market capitalization of the BRVM Stock Exchange stands at FCFA 8.5 trillion. In today's session, 42 BRVM-listed equities participated in trading. Out of these, 15 stocks ended as gainers and 16 as losers, reflecting a mixed performance in the market.

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