Ghana Market Watch | June 9th 2015: Ghana equity composite Index gains 0.54% and market cap up GHS 245 million

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets indices and market capitalization increased at the end of today’s trading session. The benchmark composite index gained 12.81 points (about 0.54 percent) to end the day at 2,386.51, bringing the year- to- date return to 5.55 percent. Equally, the financial Index rose by 12.39 points or 0.51 percent to 2,439.90 with a year-to-date return of 8.75 percent. Alike, the market capitalization added nearly GHS 245.15 million (0.38 percent) to settle at GHS 64,798.53 million.

From the market activity perspective, the market was buoyant today’s with improved volume and turnover being recorded. The total volume and total turnover were recorded at 549,447 (an increase of 329 percent from yesterday’s total volume of 128,059 shares) and GHS 251.086 million (a rise of almost 116 percent compared with previous trading section turnover of GHS 116,264.86). Ecobank Translational Incorporation Togo (251,517 volume valued at GHS 92,798), SIC Insurance (178,600 volume valued at GHS 35,720), Societe Generale (volume of 44,814 valued at 47,051), Ghana Oil (volume of 12,205 valued at GHS 16,991) and UT Bank (41,500 volume traded at GHS 7,055) were the top five most actively traded stocks by volume accounted for over 96 percent of the total volume.

Looking at the price gainers and losers, out of the 17 traded securities today there was 4 gainers, 3 losers and 10 remained flat, so the market breath today end positive. The four gainers were Ghana Oil grew by 8.59 percent or GHS 0.11 with a closing price of GHS 1.39 and Societe Generale added 2.94 percent or GHS 0.03 to end at GHS 1.05. Also, Mechanical Llyod advanced by 11.76 or GHS 0.02 to conclude at GHS 0.19 and Ecobank Translational Incorporation Togo gained 2.78 percent or GHS 0.01 to end at GHS 0.37. However, Aluworks nose-dived by 14.29 percent or GHS 0.07 to conclude at GHS 0.06, Starwin Products Limited Ghana plunged by 25.00 percent to settle at GHS 0.03 and Benso Oil Palm tumbled by 1.60 percent to end at GHS 4.92.

On the foreign exchange market, the Ghanaian Cedi failed to extend gains recorded against major trading currencies yesterday, closing in the red on the forex market today. The Cedi changed hands at GHS 4.11 to the US Dollar, representing a slide of 0.07 percent today. It also lost 0.84 percent to the Euro to close at GHS 4.61. At GHS 6.28 and GHS 4.39 for the British Pound and the Swiss Franc respectively, by depreciating 0.20 percent and 1.10 percent against Pound and Swiss Franc respectively.