SICOR Côte d’Ivoire, a coconut products manufacturer, saw its stock price climb 42.27% this week to close at XOF 10,080.
This marks the company’s strongest weekly gain in months and brings its year-to-date increase to 205.45%, making it the top performer on the regional exchange.
The stock’s limited trading volume continues to contribute to significant price volatility in both directions.
The broader market also posted gains, with the BRVM Composite Index rising 2.51% to close at 497.65 points, a new high for the year.
Other key indices followed suit: the BRVM 30 increased 2.76% to 237.61 points, the BRVM Prestige rose 2.24% to 182.42 points, and the BRVM Principal gained 2.33% to 376.45 points. All major indices finished the week higher.
Trading activity picked up considerably, with volume rising 66.15% to 10,172,743 shares, up from 6,122,706 the previous week. The total value traded increased 39.58% to XOF 11,225.4 million.
Market capitalization grew 2.61% to XOF 19,190.0 billion. Sonatel Senegal was the most actively traded stock, recording XOF 1,479.5 million in transactions, followed by SOGB and Société Générale Côte d’Ivoire.
Market breadth remained positive, with 28 stocks advancing and 19 declining. ERIUM Côte d’Ivoire gained 14.35% to XOF 2,430, while TotalEnergies Marketing rose 12.30% to XOF 3,150.
On the downside, SITAB Côte d’Ivoire fell 5.94% to XOF 23,495 following a dividend payment of XOF 1,707.2, and ONATEL Burkina Faso declined 4.76%.
The bond market saw a slight dip, with capitalization falling 0.19% to XOF 12,908.6 billion, driven by trading in a Togo government bond.
SICOR’s rally is part of a broader trend observed this year, where smaller, thinly traded stocks on the BRVM have posted outsized gains that are not necessarily tied to earnings performance.
The company’s small float means that even modest buying activity can move its share price sharply, and the stock has experienced swings in both directions in recent months, including a 5% drop in late July.
The BRVM Composite has been climbing toward record levels throughout 2026, supported mainly by regional investors, as foreign funds have largely remained absent from the exchange for years.
Banking stocks have been leading the gains, benefiting from higher interest rates and stronger lending activity.
Meanwhile, a number of small-cap companies, including sugar, coconut, and textile producers, have achieved triple-digit yearly returns on thin volume rather than on underlying business performance.
Source: allAfrica.com