Ghana Market Watch | May 28th 2015: Ghanaian benchmark index adds 0.05% and market cap up GHS 135 million

Accra, Ghana (Capital Markets in Africa):- Ghana equity benchmark composite index advanced by 1.26 points (about 0.05 percent) to end the day at 2,362.28, representing a year- to- date return of 4.48 percent. While the financial Index lost 0.12 point to close at 2,422.33 with a year-to-date return trim to 7.68%.

The market capitalization was recorded at GHS 64,575.13  million (gained GHS 135 million  from previous market capitalization).  At the same time, market activities were impressive with improved volume and turnover and high number of transactions. At the close of trading, a total of 637,130 shares (an increase of about 312 percent compared to previous trading sessions) and total turnover was recorded at GHS 1.568 million (an increase of about 354 percent). Guinness Ghana accounted for 69.08 percent of the total traded volume and 89.80 percent total market turnover respectively.

For the market movers perspective, out of the 17 traded today, 5 advanced and 3 declined. Among the advancers were Starwin Products adding GHS 0.01 (a gain of 50.00 percent) to close at GHS 0.03. Likewise, UT Bank, Ghana Oil, Societe Generale and Ecobank Ghana gained 5.88 percent, 1.67 percent, 1.06 percent and 0.22 percent respectively.  On the other hand, the three losers were Pioneer Kitchen (gave up 16.67 percent to close at GHS 0.05) , Standard Chartered Ghana (lost 0.40 percent to end the session at GHS 20.12) and  Ghana Commercial Bank (declined by 0.39 percent with closing price of GHS 5.14).

On the foreign exchange market, the Ghanaian cedi bounded back and appreciated against most major currencies, ending the end on an positive note. The Cedi appreciated by 0.15 percent, 0.22 percent and 0.66 percent against the US Dollar, Euro and the British Pound, respectively. Also, the Cedi edged by 0.30 percent and 0.43 percent against Swiss Franc and South African Rand, respectively.

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