Ghana Equity Markets | 1 Sep 2015: Ghana Stock Exchange equity markets lower … investors lose 3.3 million dollar

Accra, Ghana, Capital Markets in Africa — On the first day of the month of September, equity trading on the Ghana Stock Exchange started on a bearish moods. The market capitalization was recorded at GHS 63,759 million after losing GHS 13 million (about US$3.3 million) relative to market capitalization of GHS 63,772 million recorded at previous trading session.

The benchmark composite index shaved off 2.41 points or 0.11 percent to close the day at 2,152.36 points, representing a year-to-date performance 0f -4.81 percent. In the same mood, financial Index sagged by 2.05 points or 0.10 percent to trade at 2,136.81 points with a year-to-date return of -4.76 percent.

From the market activity perspective, the total volume was 73,794 (a fall of about 85.99 percent from previous trading session total volume of 526,827 shares) and total traded value was GHS 55,610.99 (down by 91.29 percent compared with previous trading session value of GHS 638,364). SIC Insurance had 32,500 shares (almost 44.04 percent of the total volume) to value at GHS 4,875 (about 8.77 percent of the total value traded). Other most actively traded stocks were Societe Generale (recorded 12,657 shares at GHS 11,391), Enterprise Group Limited (recorded a volume of 9,210 shares valued at GHS 20,260), Produce Buying Company(registered 5,200 shares and  valued at GHS 520) and UT Bank (traded 5,000 shares with total value of GHS 500). The top five most actively traded stocks by volume accounted for almost 89 percent of the total volume and about 68 percent of the total value traded.

Looking at the price movers and shakers, out of the 14 traded securities via 75 transactions, zero gainer and two losers were recorded, so the market breath/sentiment ended negative. Ghana Oil ended at GHS 1.88 after losing GHS 0.02 or 1.05 percent and Standard Chartered Bank fell by 0.41 percent to end at GHS 16.98.

On the foreign exchange market front, the Ghanaian Cedi ended stronger against major trading currencies. The Cedi traded against the US dollar at GHS 3.9231 by adding 3.21 percent and traded at GHS 4.3938 against the Euro after surging by 3.43 percent. The Cedi also gained value against Swiss franc to settle at GHS 4.0530 by gaining 3.91 percent. Ghanaian currency added 3.14 percent to close at GHS 6.0261 and surged by 3.67 percent to end at GHS 0.2946 against British pound and South Africa rand respectively.