Setao, Tractafric Motors Lead Weekly Gains Amid Market Fluctuations
TLDR
- Setao stock (STAC) surged by 7.69% to 700 FCFA, leading in weekly gains amid renewed investor interest.
- Tractafric Motors CI (PRSC) experienced a 6.19% increase to 2,400 FCFA following a significant decline the previous week.
- BOA Niger (BOAN) faced a notable 11.69% drop to 3,400 FCFA after a previous 7% gain due to new share allocation and overbought RSI indicator.
BRVM-listed Setao rebounded with a 7.69% increase to 700 FCFA last week, following a 5.11% drop the previous week. Renewed investor interest places Setao stock (STAC) at the top of the largest weekly gains, despite its continued susceptibility to speculative investor behavior.
Similarly, Tractafric Motors CI (PRSC) saw a 6.19% rise to 2,400 FCFA after a sharp decline of 13.08% the prior week. Other top performers include Safca (+6.02% to 880 FCFA), Sucrivoire (+5.61% to 565 FCFA), and BOA Mali (+4.86% to 1,835 FCFA).
After gaining over 7% the previous week, BOA Niger (BOAN) share price fell by 11.69% to 3,400 FCFA, placing it among the worst-performing stocks. The drop followed its new share allocation process and the stock’s overbought RSI indicator. Other underperformers include Onatel BF (ONTBF), Nei-ceda (NEIC), Oragroup (ORGT), and Air Liquide (SIVC).
Key Takeaways
Investors traded nearly 3.30 billion FCFA, marking a 4.36% decrease from the previous week. Sonatel dominated trading volumes with 1.10 billion FCFA, accounting for 33.5% of the weekly volume. Orange CI and Société Générale CI followed with 263.82 million FCFA and 222 million FCFA in transaction volumes, respectively. Setao’s and Tractafric Motors’ strong performances highlighted the week, despite overall market volatility and significant losses from BOA Niger and Onatel BF. Sonatel continued to dominate trading activity, reflecting its prominent position in the market.
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