Ghana Equity Watch | 12 Aug 2015: Ghana equity markets escape the bear, investors marginally gain US$2 million..

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets returned to positive region at the end of Wednesday’s trading session. The market capitalization marginally surged by GHS 8 million to close at GHS 63,160 million relative to market capitalization of GHS 63,142 million recorded at previous trading session.

The benchmark composite index gained 3.37 points or 0.16 percent to close the day at 2,171.57 points, representing a year- to- date performance 0f -3.96 percent. The financial Index rose by 2.2 points or 0.10 percent to trade at 2,193.48 points with a year-to-date return of -2.24 percent.

From the market activity perspective, the total volume was 232,514 (a rise of about 393 percent from previous trading session total volume of 47,189 shares) and total traded value was GHS 291,457 (an increase of about 81.07 percent compared to previous trading session value of GHS 160,977).  In term of the most actively traded stocks, CAL Bank had 94,458 shares (almost 40.60 percent of the total volume) to value at GHS 93,657 (about 32.13 percent of the total value traded). Others were Societe Generale (recorded 52,370 shares at GHS 44,432), Ecobank Transnational Incorporated Togo (recorded a volume of 44,030 shares valued at GHS 13,209), Ghana Oil (registered 8,610 shares valued at GHS 14,272) and Meridian Marshall Ghana (traded 5,500 shares with total value of GHS 605). The top five most actively traded stocks by volume accounted for about 89 percent of the total volume and about 57 percent of the total value traded.

Looking at the price movers and shakers, out of the 15 traded securities via 129 transactions, four gainers and three laggards were recorded, so the market breath/sentiment ends positive. The Societe Generale Ghana gained GHS 0.05 or 6.25 percent to end at GHS 0.85, Ghana Oil had a price gain of GHS 0.02 or 1.22 percent to close at GHS 1.66 and Ecobank Ghana closed at GHS 8.14 after the price moved by GHS 0.08 or 0.99 percent. Fan Milk Ghana also climbed by 0.68 percent to settle at GHS 5.90. On the losers’ side were CAL Bank dropped to GHS 0.99 from GHS 1.00 resulting to 1.00 percent drops and Standard Chartered Bank Ghana plunged by 1.06 percent to end at GHS 18.58. UT Bank Ghana also went down by 6.67 percent to end at GHS 0.14.

On the foreign exchange market front, the Ghanaian Cedi continued to drop against major trading currencies. The Cedi traded against the US dollar at GHS 3.7972 by depreciating by 0.45 percent and traded at GHS 4.1836 against the Euro after falling by 0.72 percent. Likewise, the Cedi lost value against British pound by trading at GHS 5.9083 after plunged by 0.58 percent and against Swiss franc to trade at GHS 3.8357 marginally depreciated by GHS 0.0001. However, the Ghanaian currency added value by 0.64 percent to close at GHS 0.2965 against South Africa rand.