Ghana Market Watch | June 2nd 2015: Ghana stock market advances today, add GHS 25 million

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets retracted from yesterday lost, as a result end in green. The benchmark composite index gained 10.3 points (about 0.44 percent) to end the day at 2,367.14, increasing the year- to- date return to 4.69 percent. The financial Index also surged by 14.33 points (0.59 percent) to 2,423.33 with a year-to-date return of 8.00 percent. In the same positive mood, the market capitalization added nearly GHS 25 million (0.04 percent) to settle at GHS 64,601.68 million.

From the market activity perspective, today’s a block trade in the shares of Ecobank Transnational incorporated Togo was one of the highlights of today’s trading activity. Today’s total volume and total turnover were recorded at 1,885,954 (an increase of 1836.68 percent from yesterday’s total volume of 97,381 shares) and GHS 713,605 (a rise of 146 percent compared with previous trading section turnover of GHS 290,202). Ecobank Transnational Incorporated Togo was the most actively traded stocks by volume and turnover, by accounting for 91 percent of the total volume and 95.07 percent of total market turnover.

Looking at the price gainers and losers, out of the 16 traded securities today there was 4 gainers, 3 losers and 9 remained flat, so the market breath today end on a positive mood. The gainers were the Ecobank Ghana gained 1.99 percent (GHS 0.18 in price) with a closing price of GHS 9.21 and Enterprise Group Ghana added GHS 0.09 (5.45 percent) to close at GHS 1.74. Likewise, Fan Milk Ghana Limited surged from GHS 5.55 to GHS 5.57 (an increase of 0.36 percent) and CAL Bank Limited advanced to GHS 1.10 by gaining 1.85 percent. On the price losers’ table, Starwin Product Limited Ghana lost 25.00 percent (GHS 0.01 from previous price) to end at GHS 0.03, Ghana Commercial Bank plummeted by 0.40 percent (i.e lost GHS 0.02 relative to GHS 5.00) to conclude at GHS 4.98 and Standard Chartered Bank Ghana declined by 0.60 percent to close at GHS 20.00.

On the foreign exchange market, the Ghanaian Cedi continued the downward trend against major trading currencies. The increased demand for US Dollars from corporates, importers and speculators continued to put pressure on the Cedi. The Cedi weakened against US Dollar and Euro by 0.34 percent to close at GHS 4.04 and 0.01 percent to end at GHS 4.40. The Cedi also went down 0.28 percent and 0.31 percent against the British Pound and Swiss Franc.