Cote d’Ivoire Market Watch | June 16th 2015: Equity market cap slide by XOF 46 billion on thin liquidity

Abidjan, Cote d’Ivoire (Capital Markets in Africa):- BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Tuesday, lower than the previous trading day. BRVM 10 index decreased from 273.50 to 271.02 points, a drop of 0.91%. BRVM Composite index lost 0.67% to 272.77 against 274.62 points previously. At the same time, the equity market capitalization lost XOF 45.56 billion to close at XOF 6,730.74 billion compared with previous trading sessions’ market capitalization of XOF 6,776.30 billion.

Looking at the market activity, the total volume was recorded at 193,161 compared to volume of 213,963 recorded at previous trading sessions and total traded value was recorded at XOF 422.711 million (against XOF 510.233 million recorded at previous trading session) exchanged in 28 securities via 220 transactions. In addition, today’s top stock by volume was ECOBANK TRANSNATIONAL INCORPORATION Togo with 170,384 traded shares (accounted for about 82 percent of the total volume) and ONATEL Burkina Faso recorded the highest turnover of XOF 122.82 million (accounted for almost 30 percent of total turnover). The Liquidity ratio (measured by Volume traded/ Ask orders volume) ended at 20.31 percent and Price Earnings Ratio was recorded at 19.78.

In term of the price shakers and laggards, out of the 28 traded securities there were 9 price gainers, 12 laggards and 7 remained unchanged, hence market breathe end negative. The price shakers were TOTAL Senegal surged by 7.50 percent to end at XOF 30,105 and SIEM COTE D’IVOIRE climbed by 7.00 percent to conclude at XOF 26,750. Likewise, ONATEL BURKINA FASO appreciated by 6.47 percent to settle at XOF 8,890 and SERVAIR ABIDJAN COTE D’IVOIRE added 2.73 percent with a closing price of XOF 56,500.

Contrary, BOLLORE AFRICA LOGISTIC COTE D’IVOIRE tumbled by 4.94 percent to trade at XOF 202,005 and PALM COTE D’IVOIRE fell by 3.53 percent to close at XOF 16.400. Likewise, SOCIETE GENERALE COTE D’IVOIRE and SONATEL SENEGAL plummeted by 2.36 percent (to close at XOF 29,000) and 4.11 percent (to close at XOF 23,500) respectively.

From sector viewpoint, public utilities sector index tumbled by 1.07 percent and transportation sector index went down by 4.86 percent. Also, industry sector index plunged by 0.34 percent to close at 174.42 points. Conversely, financial services sector index rose by 0.07 percent and distribution sector index surged by 0.98 percent. While miscellaneous sector index remained flat.