BRVM stocks hit fresh highs as overall market cap crosses 9trn FCFA
TLDR
- BRVM market capitalization surpasses 9 trillion CFA francs ($15 billion) for the first time on August 8, 2024, reflecting significant equity market growth.
- BRVM's market capitalization journey: 4 trillion in 2012 to 9 trillion in 2024, with a remarkable 20% increase in less than eight months of 2024.
- Rapid gains demonstrate strong performance and growing investor confidence in the BRVM market.
WAEMU regional stock exchange BRVM made history on Thursday, August 8, 2024, by surpassing the 9 trillion CFA franc (around $15 billion) mark in market capitalization for the first time.
The benchmark composite index rose 0.54% to 242.77 points, its highest level since April 2018, mainly supported by the most valuable listed companies Sonatel (+1.4% to 20,990 FCFA) and Orange CI (+0.86% to 13,415 FCFA), which reached high levels.
The BRVM 30 and BRVM Prestige indices also posted respective gains of 0.58% to 121.62 points and 0.14% to 111.1 points. This milestone reflects significant growth in the equity market, which has seen rapid gains in recent years.
Key Takeaways
The BRVM stock market reached a market capitalization of 4 trillion CFA francs on December 13, 2012, and steadily climbed to 5 trillion CFA francs on May 27, 2013, 6 trillion CFA francs on January 29, 2014, 7 trillion CFA francs on July 9, 2015, and 8 trillion CFA francs on September 12, 2023. In less than eight months of 2024, the BRVM has added around 1.5 trillion CFA francs in capitalization, representing a 20% increase. This rapid growth underscores the strong performance and increasing investor confidence in the BRVM market.
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