Ghana Market Watch | June 4th 2015: Ghana equity adds market cap of GHS 8 million, composite index up

Accra, Ghana (Capital Markets in Africa):- Ghana equity markets ended bullish at end of today trading session. The benchmark composite index gained 0.01 points (about 1.38 percent) to end the day at 2,366.47, increasing the year- to- date return to 4.66 percent. However, the financial Index plummeted by 0.67 points or 0.03 percent to 2,420.10 with a year-to-date return of 7.84 percent. However, the market capitalization added nearly GHS 8.00 million (0.01 percent) to settle at GHS 64,598.02 million.

From the market activity perspective, the market was quite today’s as a result of standstill in business activities following the heavy downpour. The total volume and total turnover were recorded at 127,028 (a decrease of 0.55 percent from yesterday’s total volume of 127,741 shares) and GHS 233.980 million (a fall of almost 89 percent compared with previous trading section turnover of GHS 1.777 million). Ghana Commercial Bank was the most actively traded stocks by volume, by accounting for nearly 75 percent of the total volume.  While Ecobank Translational Incorporation Togo and Ghana Commercial Bank accounted for almost 80 percent of the total market turnover.

Looking at the price gainers and losers, out of the 12 traded securities today there was 2 gainers, 1 loser and 9 remained flat, so the market breath today end positive. The two gainers were Starwin Products Ghana gained 33.33 percent or GHS 0.01 with a closing price of GHS 0.04 and Ghana Oil added 2.46 percent or GHS 0.03 to end at GHS 1.25. However, the lone loser was Ghana Commercial Bank plummeted by 0.20 percent or GHS 0.01 to conclude at GHS 4.90.

On the foreign exchange market, the Ghanaian Cedi continued the downward trend against major trading currencies. The Cedi changed hands at GHS 4.09 to the US Dollar, representing a slide of 0.86 percent today. It also lost 2.15 percent to the Euro to close at GHS 4.61. At GHS 6.27 and GHS 4.37 for the British Pound and the Swiss Franc respectively, by losing 0.91 percent and 0.70 percent against Pound and Swiss Franc respectively.

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