Goil, BOPP and FML likely to shed off some pesewas this week

On the Ghana Stock Exchange

Trading activity on the local bourse ended on a negative note with the Composite index and the Financial stocks index losing 26.47 points and 29.18 points to peg at a YTD return of 11.29% and 15.21% respectively. CAL led the list of gainers with GHS 0.20 to trade at GHS 1.30. EGH, on the other hand, topped the laggards’ list shedding off GHS 0.47 at week close.

Trading activity in terms of volumes on the stock market increased by 212.47% in the week under review. The total volume of shares traded rose by 4.8 million. The total value of shares traded decreased by 0.01% week on week. The top 5 most actively traded stocks in terms of volumes last week were MTN.GH, CAL, EGL, ALW & GOIL. TOTAL is tipped to record marginal gains on the local bourse this week whereas GOIL, BOPP, and FML are likely to shed off some pesewas based on the closing bid and offer prices at the end of last week’s trade.

On the Ghana Alternative Market

Trading activity on the Ghana Alternative Market was hushed as no shares changed hands

On the Currency market

 The Cedi depreciated marginally against the Dollar, the British Pound and the Euro at the end of last week’s trade. The local currency exchanged at a mid-rate of GHS 4.7524 to the USD, GHS 6.1463 to the GBP and GHS 5.5003 to the EURO at week close. GN research analysts posit that; the Cedi is poised to lose value marginally on the forex market in the short-term. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 5.66%.

 

 

By GN RESEARCH

 

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