Ghana Market Watch | June 1st 2015: Ghana stock market opens the week on a quite note and in a negative mood

Accra, Ghana (Capital Markets in Africa):- Ghana equity market opens the week on a quite note and in a negative mood. The benchmark composite index declined by 5.79 points (about -0.25 percent) to end the day at 2,356.84, reducing the year- to- date return to 4.24 percent. Likewise, the financial Index plummeted by 7.71 points (-0.32 percent) to 2,408.99 with a year-to-date return of 7.37 percent. However, the market capitalization was recorded at GHS 64,545.46 million.

From the market activity perspective, today’s total volume and total turnover were recorded at 97,381 shares and GHS 290,202. Ghana Commercial Bank, Ecobank Transnational Incorporated Togo and Enterprise Group Ghana combined volume accounted for almost 76 percent to the total volume. GCB recorded the largest turnover of GHS 258,000 accounted for nearly 89 percent of the total market turnover.

Looking at the price gainers and losers, out of the 19 traded securities today there was one gainer, three losers and fifteen remained flat, so the market breath today end on a negative note. The lone gainer was the dairy producer, Fan Milk Limited Ghana gaining 0.18 percent with a closing price of GHS 5.55. On the price losers’ table, Aluworks Limited Ghana lost 14.29 percent (GHS 0.01 from previous price) to end at GHS 0.06, Enterprise Group plummeted by 8.33 percent (i.e gave up GHS 0.15 relative to GHS 1.80) to conclude at GHS 1.65. Ghana Commercial Bank also lost 0.79 percent to close at GHS 5.50. While Ecobank Transnational Incorporated Togo, Trust Bank Limited Ghana and Starwin Products Limited Ghana remained unchanged to settle at GHS 0.34, GHS 0.26 and GHS 0.03 respectively. On the one hand, ALUWORK Ghana the lone advancer adding GHS 0.01 to close at GHS 0.07. On the other hand, Ghana Commercial Bank shaved GHS 0.03 to GHS 5.16.

On the foreign exchange market, the Ghanaian Cedi closed in red today, depreciating against all major trading currencies. The Cedi weakened against US Dollar and Euro by 0.34 percent (to close at midrates of GHS 4.01) and 0.94 percent (to end at midrates of GHS 4.40). The Cedi also gave up 0.36 percent and 0.71 percent against the British Pound and Swiss Franc.