BRVM / Week 48 :The market on the starting block for the rally of December

The regional stock market consolidates its bullish momentum this week, closing for the second consecutive time in the green. The BRVM Composite performed well on a weekly basis, i.e. +1.58% to 130.86 points, allowing the market to increase its capitalization to $7.2 billion.

The burgeoning euphoria of December's bull rally was felt in most trades this week. Indeed, there have been several changes in stocks that ignore the technical indicators analysis. These include UNIWAX and NSIA BANQUE. The record volume series continued again this week. This week, the BOA CI registered a record deal worth 32,051 securities for a total amount of $1.9 million.

Winners of the week

In terms of individual performance, the best performance of the week was awarded to NSIA BANQUE CI, which achieved a stunning jump from 23.14% to $9.7, despite the 36% drop in the bank's net profit in the third quarter. With this spectacular increase, the stock corrects its annual performance that goes from -33.54% to -18.16%. Champion of the bull rally at the end of the year with a probability of a 100% increase in December since its IPO (23/10/2017), wouldn't the stock have started this rally?

The pleasant surprise of the week is the performance recorded by SOCIETE GENERALE CI (+14.68% to $14.6) that allows it to rise to the second position of this ranking. This is a feat achieved by the stock this week knowing that its technical indicators were already flirting with their overheating zone, denotes the desire of investors to acquire it. 8,303 stocks were traded this week. It should be noted that for a month and a half (from 15/10/2020 to 27/11/2020), the stock increased from $11.3 to $14.6, an increase of 29.11% for a latent gain of $3.3 per share.

In the TOP 5, SAPH CI (+13.64% to $2.7), BOA Niger (+9.75% to $6.4) and ORAGROUP TG (+9.10% to $7) were also included.

Losers of the week

On the flop of the week, we find VIVO ENERGY CI (-9.77% to $1) at the top. The fall in the stock this week is justified by the fact that some investors were resolutely positioned for sale in order to cash in their capital gains before the dividend was distributed.

In second position of this ranking we can see NESLTLE CI (-8.70% to $0.6). This weekly fall recorded by the stock is justified by the exit of positions of certain investors who acquired the security when the company's half-yearly results were published (a month earlier). The total volume traded this week is 308 stocks.

The other stocks of FLOP 5 are BERNABE CI (-7.69% to $1), TOTAL SN (-6.67% to $2.6) and TRACTAFRIC MOTORS (-6.61% to $3.7).

KOUAKOU Christopher

La Rédaction

Publié le 30/11/20 13:10