Trading activity on the local bourse ended on a negative note with the Composite index and the Financial stocks index losing 42.33 points and 40.92 points to peg at a YTD return of 12.32% and 16.47% respectively. TOTAL led the list of gainers with GHS 0.12 to trade at GHS 4.63. FML, on the other hand, topped the laggards’ list shedding off GHS 0.20 at week close.
Trading activity in terms of volumes on the stock market increased by 73.42% in the week under review. The total volume of shares traded rose by 961,311. The total value of shares traded increased by GHS 1.58 million week on week. The top 5 most actively traded stocks in terms of volumes last week were EGL, CAL, GOIL, EGH, and ETI. Trading activity is expected to be lively with the listing of MTN shares this week. TOTAL is tipped to record marginal gains this week with GOIL and FML 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 Euro and the British Pound at the end of last week’s trade. The local currency exchanged at a mid-rate of GHS 4.7240 to the USD, GHS 6.1344 to the GBP and GHS 5.4950 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 5.26%.
By GN RESEARCH