Ghana Market Watch | June 18th 2015: Ghana equity markets indices and market capitalization return to red today, GHS 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 4.41 points or about 0.18 percent to end the day at 2,377.66, bringing the year- to- date return to 5.16 percent. Equally, the financial Index dropped by 0.28 percent or 6.73 points to 2,439.49 with a year-to-date return of 8.73 percent. Likewise, the market capitalization fell nearly GHS 24.01 million (lose 0.04 percent relative to yesterday market cap of GHS 64,779.15) to settle at GHS 64,755.14 million.

From the market activity perspective, trading activity on the stock market showed an improved volume and turnover with bods exceeding offers at the close of today’s trading session. The total volume and total turnover were recorded at 291,078 (a rise of about 71 percent from yesterday’s total volume of 170,616 shares) and GHS 577,471 (a fall of 67 percent compared with previous trading section turnover of GHS 345.066 million). Enterprise Group Ghana (200,200 volume with a valued of GHS 380,380), CAL Bank Limited Ghana (59,609 shares traded at GHS 65,643), Ghana Commercial Bank (recorded volume of 25,903 at GHS 125,737), ECOBANK Transnational Togo (volume of 1,800 at GHS 666) and Mechanical Lloyd Ghana (1,000 volume traded at GHS 180) were the top five most actively traded stocks by volume and accounted for nearly 99 percent of the total volume and about 99 percent of the total market turnover.

Looking at the price movers, out of the 16 traded securities today there was 1 leader, 3 laggards and 12 remained unchanged, so the market breath today end negative. The price leader was Ghana Oil, gaining 0.71 percent or GHS 0.01 with a closing price of GHS 1.41. Conversely, CAL Bank Limited tumbled by 1.79 percent or GHS 0.02 to conclude at GHS 1.10, Standard Chartered Bank Ghana plunged by 0.10 percent to settle at GHS 19.98 and Ghana Commercial Bank  reduced by 1.02 percent with the closing price of GHS 4.85.

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 GHS0.34 per Rand as the Cedi went up by 0.03 percent against the South African currency. On the contrary, the Cedi against the US Dollar, Euro and British Pound went down by 0.04 percent (at GHS 4.23), 0.29 percent (at GHS 4.77) and 0.66 (to end at GHS 6.65) percent respectively.