Ghana Equity Watch | 14 July 2015: Ghana equity markets indices and market capitalization bearish, US$ 80 million down

Accra, Ghana (Capital Markets in Africa):- Ghana benchmark composite index slumped by 14.33 points or 0.61 percent to end the day at 2,320.75, its year- to- date performance reduces to 2.64 percent. At the same time, the financial Index tumbled by 20.11 points or 0.85 percent to trade at 2,356.13 with a year-to-date return of 5.01 percent. The market capitalization also dropped by GHS 429 million to close at GHS 64,280.10 million relative to GHS 64,708.90 recorded at previous trading session.

From the market activity perspective, the total volume was 295,651  (a rise of about 145.33 percent from yesterday’s total volume of 120,511 shares) and total traded value was GHS 233,168 (an increase of about 122.05 percent compared with previous trading session value of GHS 105,006). UT Bank Ghana had 142,200  shares (almost 48 percent of the total volume) to value at GHS 24,174 (about 10.37 percent of the total value traded). Other most actively traded stocks were Enterprise Group Ghana (recorded 50,021 shares at GHS 98,040 accounted for 59 percent of the total value), Ecobank Transnational Incorporation (recorded a volume of 24,724 shares valued at GHS 8,961), CAL Bank (registered 22,300 shares valued at GHS 24,530) and Transactional Solutions (traded 19,900 shares with total value of GHS 587). The top five most actively traded stocks by volume accounted for almost 88 percent of the total volume and about 84 percent of the total value traded.

Looking at the price movers and shakers, among the 18 traded stocks, two gainers and three losers were recorded, so the market breath/sentiment ends negative. The losers were Ecobank Transnational Incorporation fell by 5.26 percent to end at GHS 0.36, Ghana Commercial Bank with a drop of GHS 0.01 or 0.21 percent to end at GHS 4.74 and  Total Petroleum Ghana tumbled by 0.10 percent or GHS 0.02 to conclude at GHS 0.36.

On the foreign exchange market front, the Ghanaian Cedi appreciated against major trading currencies. The Cedi traded against the US dollar at GHS 3.3347 by adding 3.66 percent and traded at GHS 3.6782 against the Euro by advancing 4.65 percent . The Cedi also appreciated against British pound and Swiss franc by setting at GHS 5.1725 and GHS 3.5159 by surging by 3.51 percent and 4.46 percent respectively. The local currency appreciated by 3.56 percent to close at GHS 0.2679 against South Africa rand.