Ghana Equity Watch | 30 June 2015: Ghana equity markets indices and market capitalization close in red today, US$ 24 million down

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets indices and market capitalization tumbled at the end of today’s trading session. The benchmark composite index plunged by 18.92 points or about 0.80 percent to end the day at 2,352.23, bringing the year- to- date return to 4.03 percent. Equally, the financial Index dropped by 1.08 percent or 26.18 points to 2,394.68 with a year-to-date return of 6.73 percent. Likewise, the market capitalization fell nearly GHS 103.2 million (or 0.16 percent relative to yesterday market cap of GHS 64,719.65) to settle at GHS 64,616.48 million.

From the market activity perspective, trading activity on the stock market showed an improved volume and turnover. The total volume and total turnover were recorded at 204,248 (a rise of about 321.42 percent from yesterday’s total volume of 48,467 shares) and GHS 140,702 (an increase of almost 65 percent compared with previous trading session turnover of GHS 85,329). ECOBANK Transnational Incorporation recorded a volume of 106,400 (about 52 percent of the total volume) and turnover of GHS 39,368. Other most actively traded stocks were UT Bank Limited Ghana (74,300 shares traded at GHS 12,643), Ghana Oil (recorded volume of 5,558 at GHS 8,056), Ghana Commercial Bank (volume of 4,977 at GHS 24,327) and ECOBANK Ghana (3,682 volume traded at GHS 32,427). The top five most actively traded stocks by volume accounted for 96.24 percent of the total volume and about 83.04 percent of the total market turnover.

Looking at the price movers and shakers, out of the 14 traded securities today there was no gainers and four laggards, so the market breath today end negative. The price losers were Ghana Commercial Bank, losing 0.20 percent or GHS 0.01 with a closing price of GHS 4.89 and ECOBANK Ghana Limited tumbled by 2.11 percent or GHS 0.19 to conclude at GHS 8,81. In the same mood, HFC Bank Ghana plunged by 6.98 percent to settle at GHS 1.60 and UT Bank  reduced by 10.53 percent with the closing price of GHS 0.17.

On the foreign exchange market front, the Ghanaian Cedi continued to be under pressure and depreciated against all the other major trading currencies today. However, the local currency edged higher against the South African Rand. Forex traders offered an average of GHS 0.35 per Rand as the Cedi went up by 0.21 percent against the South African currency. On the contrary, the Cedi against the US Dollar, Euro and British Pound depreciated by 0.27 percent at GHS 4.234.33, 0.58 percent at GHS 4.84 and 0.42 to end at GHS 6.82 percent respectively.