Ghana Equity Watch | 7 July 2015: Ghana equity markets bearish today …. composite index 8bps down

Accra, Ghana (Capital Markets in Africa):- Ghana stock markets returned to bearish path at end of today’s trading session. The benchmark composite index slides by 1.88 points or 0.08 percent to end the day at 2,346.79, its year- to- date performance reduces to 3.79 percent. At the same time, the financial Index  plunged by 9.51 points or 2.91 percent to trade at 2,386.31 with a year-to-date return of 6.36 percent. Likewise, the market capitalization closed at GHS 64,597.38 million, by marginally rose by GHS 0.3 million.

From the market activity perspective, trading activity on the stock market improved today. The total volume was 1,747,205 (a rise of about 4739.10 percent from yesterday’s total volume of 36,106 shares) and total traded value was GHS 453,283 (an increase of about 180.97 percent compared with previous trading session value of GHS 161,353). SIC Insurance Kenya recorded a volume of 1,686,760 (almost 97 percent of the total volume) to value at GHS 253,014 (about 56 percent of the total traded value). Other most actively traded stocks were Fan Milk Ghana (30,000 shares traded at GHS 172,800), CAL Bank (recorded volume of 13,345 at GHS 14,679), ECOBANK Transnational Incorporation (volume of 3,000 valued at GHS 1,110) and Starwin Products (had 500 traded shares with total value of GHS 15). The top five most actively traded stocks by volume accounted for almost 99 percent of the total volume and about 97 percent of the total traded value.

Looking at the price movers and shakers, out of the 12 traded securities today there were 1 gainers and three losers, so the market breath today end negative. Fan Milk Ghana was the only gainer to close at GHS 5.76 after adding 0.17 percent or GHS 0.01. The three losers were, SIC Insurance Ghana with a drop of GHS 0.03 (or 16.67 percent) to end at GHS 0.15, Ghana Commercial Bank tumbled by 0.21 percent or GHS 0.01 to conclude at GHS 4.80 and Ecobank Ghana fell  by 0.11 percent to close at GHS 8.79.

On the foreign exchange market front, the Ghanaian Cedi appreciated all the major trading currencies today. The Cedi trade at GHS 3.929 to the US dollar and GHS 6.137 to the British pound, by adding 0.03 percent and 0.03 percent. But, the Cedi remained flat against Swiss Franc and Euro to close at GHS 4.353 and GHS 4.165 respectively. However, the local currency depreciated by 0.02 percent to close at GHS 0.3170 against South Africa rand.