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Ghana Market Watch | June 3rd 2015: Ghana equity market cap GHS 11 million, indices down
Accra, Ghana (Capital Markets in Africa):- Ghana equity markets gave up yesterday gains, so end in negative territory. The benchmark composite index gained 0.82 points (about 0.03 percent) to end the day at 2,367.14, increasing the year- to- date return to 4.66 percent. The financial Index also plummeted by 3.22 points (0.13 percent) to 2,420.10 with a year-to-date return of 7.90 percent. In the same negative mood, the market capitalization shed off nearly GHS 11.2 million (0.02 percent) to settle at GHS 64,590.50 million.
From the market activity perspective, today’s total volume and total turnover were recorded at 127,741 (a decrease of 93.23 percent from yesterday’s total volume of 1,885,954 shares) and GHS 1.777 million (a rise of 149.13 percent compared with previous trading section turnover of GHS 713,605). Standard Chartered Bank Ghana was the most actively traded stocks by volume and turnover, by accounting for 64 percent of the total volume and nearly 93 percent of total market turnover.
Looking at the price gainers and losers, out of the 12 traded securities today there was 2 gainers, 2 losers and 8 remained flat, so the market breath today end neutral. The two gainers were Trust Bank (Gambia) gained 12.50 percent or GHS 0.03 with a closing price of GHS 0.27 and Fan Milk Limited Ghana added 0.54 percent or GHS 0.03 to end at GHS 5.60. However, the two losers were Ghana Commercial Bank plummeted by 1.41 percent or GHS 0.07 to conclude at GHS 4.91 and Guinness Ghana declined by 0.31 percent to close at GHS 3.19.
On the foreign exchange market, the Ghanaian Cedi continued the downward trend against major trading currencies. The Cedi failed to take advantage of pressure on the British Pound today following a drop in UK Services Purchasing Manager Index (PMI) to a five month low. The Cedi shed 1.1 percent against the British Pound to settle at GHS 6.21. Likewise, the Cedi weakened against Euro by 2.31 percent to close at GHS 4.51.