On the Ghana Stock Exchange
At the end of last week’s trading activity, the Composite index and the Financial stocks index gained 2.99 points and 8.10 points to peg at a YTD return of 13.80% and 15.37% respectively. TOTAL led the list of gainers with GHS 0.06 to trade at GHS 4.16. SIC, on the other hand, topped the laggards’ list shedding GHS 0.05 at week close.
Trading activity in terms of volumes on the stock market decreased by 18.71% in the week under review. The total volume of shares traded fell by 638,466. The total value of shares traded also declined by GHS 2.72 million week on week. The top 5 most actively traded stocks last week were EGL, SPL, CAL, GGBL, and SOGEGH. Trading activity on the local bourse is expected to be lively this week with TOTAL and EGH tipped to record marginal gains 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 ended with 2,100 shares of IIL worth GHS 189 changing hands.
On the Currency market
The Cedi appreciated marginally against the Euro and the British Pound but lost to the Dollar at the end of last week’s trade. The local currency exchanged at a mid-rate of GHS 4.6962 to the USD, GHS 6.1150 to the GBP and GHS 5.4454 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 4.59%.