Trading activities recover from Tuesday’s dip

On the Ghana stock exchange

The Composite index surged by 0.15 points to peg at a YTD of 29.28%. The Financial stock index closed down at 3,114.15 losing 5.27 points. The slip in the Financial stock index was as a result of the fall in the price of GCB and HFC by GHS 0.07 and GHS 0.02. The rise in the Composite index was driven by capital gains on GOIL, UNIL, CMLT, and SCB. GOIL topped the charts in terms of volume as 317,400 shares worth GHS 1,285,470 changed hands.

Trading activities increased yesterday with trading volume rising from 398,822 on Tuesday to 691,206 on Wednesday. It recovered from a dip of 16% on Tuesday.  Market capitalization climbed to GHS 65.959 million at the end of trading yesterday. GN analysts anticipate an increase in market activity today with a rise in trading of financial and petroleum stocks.

 

On the Ghana Alternative market

Trading on the GAX was hushed as no shares changed hands yesterday.

 

On the Currency market

The Cedi made a marginal recovery against the Dollar yesterday. The Cedi lost to the British Pound, and the Euro at the close of trading yesterday. The local currency exchanged at a mid-rate of GHS 4.4182 to the USD, GHS 6.1765 to the GBP and GHS 5.492 to the EURO. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the inter-bank market recorded a year to date depreciation of 1.51%.

 

By GN Research

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