Ghana Equity Markets | 19 Oct 2015: Market opens with a smile, indices and market capitalization increase …

Accra, Ghana, Capital Markets in Africa — The Ghanaian Stock Exchange (GSE) equities opened the week in the bullish mood, and the market capitalization rose by GHS 35.71 million (about US$9.5 million) to close at GHS 62,080 million compared to a market capitalization of GHS 62,045 recorded at the previous trading session.

The benchmark composite index surged by 2.78 points or 0.14 percent to close the day at 1,991.06 points, representing a year-to-date performance 0f -11.94 percent. The financial Index also added 9.06 points or 0.14 percent to trade at 1,920.13 points with a year-to-date return of -14.42 percent.

From the market activity perspective, the total volume was 954,735 (a rise of about 855.82 percent from the previous trading session total volume of 99,887 shares) and total traded value was GHS 5.527 million (a rise of about 1740.52 percent compared with the previous trading session value of GHS 300,319). Fan Milk Ghana recorded 544,100 shares (almost 57 percent of the total volume) to value at GHS 77,140 (about 1.40 percent of the total value traded). Other most actively traded stocks were Ghana Commercial Bank (recorded 407,210 shares at GHS 841,160), CAL Bank Ghana (recorded a volume of 1,600 shares valued at GHS 4,000), Enterprise Group Ghana (registered 231 shares valued at GHS 968,105) and Ecobank Transnational Incorporated (traded 1,000 shares with total value of GHS 50,795). The top five most actively traded stocks by volume accounted for almost 99.9 percent of the total volume and about 35.5 percent of the total value traded.

Looking at the price movers and shakers, out of the 9 traded securities via 102 transactions, two gainers, and no loser were recorded, so the market breath/sentiment ended in a positive. Ghana Commercial Bank rose to GHS 3.74 by adding GHS 0.04 or 1.08 percent. Fan Milk Ghana surged to GHS 7.354 from GHS 7.31 by gaining 0.55 percent.

On the foreign exchange market front, the Ghanaian Cedi traded against the US dollar at GHS 3.7754 after dipping by 0.10 percent and traded at GHS 4.2872 against the Euro after gaining 0.12 percent. The Cedi also gained value against Swiss franc to settle at GHS 3.9623 by adding 0.16 percent. Ghanaian currency dropped by 0.07 percent to close at GHS 5.8279 but remained unchanged to end at GHS 0.2879 against British pound and South Africa rand respectively.