TLDR
- BRVM regional stock market experienced declines in indices: BRVM Composite by 0.12%, BRVM 30 by 0.09%, and BRVM Prestige by 0.34%
- SMB CI shares have been on a downward trend since September 20, with over a 17% cumulative loss due to profit-taking and investor caution
- SAPH CI and UNIWAX CI showed positive performance, with SAPH CI increasing by 7.38% and UNIWAX CI by 6.82% after a price consolidation phase.
The BRVM regional stock market saw its second consecutive session in the red on Thursday, with the BRVM Composite, BRVM 30, and BRVM Prestige indices recording declines of 0.12% (to 269 points), 0.09% (to 133.38 points), and 0.34% (to 111.78 points), respectively.
SMB CI shares have been downward since September 20, with a cumulative loss exceeding 17%, driven by significant profit-taking. The bearish sentiment is further exacerbated by investor caution. SMB CI (-7.48% to 11,935 FCFA) and Servair Abidjan CI (-7.38% to 1,945 FCFA) were the biggest decliners of the session.
On the positive side, SAPH CI rebounded with a 7.38% increase to 4,295 FCFA, while UNIWAX CI gained 6.82% to 470 FCFA, both stocks emerging from a price consolidation phase.
Key Takeaways
Caution among investors and profit-taking activities continue to drive declines in key stocks like SMB CI, while SAPH CI and UNIWAX CI show signs of recovery. Sonatel remains a dominant force in trading volumes, reflecting its significant role in the regional market. Investors traded 2.36 billion FCFA on October 10, with Sonatel dominating the activity, capturing 67% of the total volume, amounting to 1.58 billion FCFA.
