Ghana Market Watch | June 10th 2015: Ghana equity markets indices and market capitalization nose-dive today

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets indices and market capitalization nose-dive at the end of today’s trading session. The benchmark composite index dropped 5.73 points (about 0.24 percent) to end the day at 2,380.78, bringing the year- to- date return to 5.30 percent. Equally, the financial Index plunged by 9,59 points or 0.39 percent to 2,430.31 with a year-to-date return of 8.32 percent. Alike, the market capitalization went down nearly GHS 206.23 million (-0.32 percent relative to yesterday market cap of GHS 64,798.53) to settle at GHS 64,798.53 million.

From the market activity perspective, the market was a thin today’s with lower volume and turnover being recorded. The total volume and total turnover were recorded at 106,607 (a reduction of about 81 percent from yesterday’s total volume of 549,447 shares) and GHS 127.370 million (a fall of almost 50 percent compared with previous trading section turnover of GHS 251.086 million). Ecobank Translational Incorporation Togo (43,043 volume valued at GHS 15,503), Enterprise Group (12,600 shares traded at GHS 21,924), Mechanical Llyod (recorded volume of 10,000 at GHS 1,700), HFC Bank  (volume of 6,117 at GHS 10,521) and Ghana Oil  (4,500 volume traded at GHS 6,300) were the top five most actively traded stocks by volume and accounted for nearly 72 percent of the total volume.

Looking at the price movers, out of the 19 traded securities today there was 2 gainers, 2 losers and 15 remained unchanged, so the market breath today end neutral. The two gainers were PZ Cussons improved by 12.00 percent or GHS 0.03 with a closing price of GHS 0.28 and Ghana Oil accelerated by 0.72 percent or GHS 0.01 to end at GHS 1.40. However, the two losers were, Ecobank Translational Incorporation Togo tumbled by 10.53 percent or GHS 0.02 to conclude at GHS 0.17 and Mechanical Llyod Ghana plunged by 10.53 percent to settle at GHS 0.17..

On the foreign exchange market, the Ghanaian Cedi lost footings against major trading currencies today, closing in the red on the forex market today. The Cedi changed hands at GHS 4.12 to the US Dollar, representing a slide of 0.11 percent today. It also lost 0.54 percent to the Euro to close at GHS 4.63.Equally, the Cedi depreciated by 0.38 percent (to close at GHS 6.31) and 0.70 percent (to trade at GHS 4.42) against the British Pound and the Swiss Franc respectively.