Ghana Market Watch | May 20th 2015: Ghana equity market bounces to bullish

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets bounced back from yesterday’s slide with gains in two banking stocks propelling the indices. The benchmark Composite Index gained 1.16 points to close trading at 2,317.33, representing a year- to- date return of  2.49%. The Financial Index also added 6.78 points to 2,364.36 with a year-to-date return of 5.38%.

The market capitalization was recorded at  GHS 64,330.06 million (added GHS 6.3 million from previous market cap). At the close of trading, a total of 1.8 million shares valued at GH¢1.25 million were exchanged in sixteen equities.

Ecobank Ghana, which opened the day at GHS 8.11 bagged GHS 0.09 to close trading at GHS 8.20. HFC Bank also inched up GHS 0.01 to GHS 1.70. On the other hand, two equities shaved GHS 0.01 each; GCB Bank closed trading at GHS 5.23 from GHS 5.24 whiles Cocoa Processing Co. ended the session at GHS 0.01.

On the foreign exchange market, the Ghanaian cedi continued it positive momentum against British pound, Euro and South African Rand but depreciated against the US dollar.