Ghana stock market closes September on positive trend

The Ghana Stock Exchange (GES) closed the September with yields on treasury securities remaining virtually unchanged across the board.

Bids tendered for the 91 day bill rose from GH¢653.49 million to GH¢873.60 million with government accepting the entire amount at a weighted average interest rate of 22.87 per cent.

Demand for the 182-day bill rose as bids tendered increased from GH¢328.30 million to GH¢439.80 million with government accepting the entire amount at a weighted average interest rate of 24.69 per cent.

Bids tendered for the one year note was GH¢96.53 million with government accepting GH¢95.46 million at a weighted average interest rate of 23.25 per cent, a stock market analysis paper made available to the Ghana News Agency, which focused on trading for the week ending September 30, said.

Nordea Capital is an investment bank licensed by the Securities and Exchange Commission, which offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

The paper said the GSE Composite Index fell by a marginal 0.01 per cent to close at 1,774.9 points, which represents a year-to-date loss of 11 per cent.

The Trust Bank Limited plunged by 13.3 per cent to close at GH¢0.26 per share; which is adjudged as the lowest price since the year began; TOTAL Ghana Limited also lost 4.0 per cent to close at GH¢2.40 per share.

Guinness Ghana Brewery Limited dropped 2.2 per cent to close at GH¢1.75 per share; Investors bid down the shares of Benso Oil Palm Plantation for the second successive week as the stock shed 0.8 per cent to close at GH¢2.43 per share.

According to the Nordea capital analysis GOIL also dipped by 0.8 per cent to GH¢1.23 per share while GCB Bank shed 0.3 per cent to close at GH¢3.94 per share and Tullow Oil stock slipped by 0.2 per cent to close at GH¢26.90 per share.

The analysis on September 29 indicates that trading ended with transactions registered in 12 equities with no price changes; consequently, the benchmark GSE-Composite Index remained unchanged at 1,774.4 points with a year-to-date loss of 11 per cent.

The GSE-Financial Stock Index also closed flat at 1,680.8 points with a year-to-date loss of 12.9 per cent. Volume traded was 58,880 shares which were valued at GH¢42,367.79.

The Nordea Income Growth Fund was priced at 0.2615 with a year-to-date return of 14.59 per cent.

According to the analysis, on the interbank market, the cedi rose against all three major trading currencies; it inched by 0.02 per cent against the US Dollar at a mid-rate of GH¢3.9709; rose 0.5 per cent against the Euro at a mid-rate of GH¢4.4653 and edged 0.02 per cent against the Pound Sterling at a mid-rate of GH¢5.1576.

The September 28 trading analysis indicates that the mid-week session registered transactions in 15 equities with three price changes; consequently, the benchmark GSE-Composite Index rose by 0.02 per cent to close at 1,774.4 points.

The GSE-Financial Stock Index, however, dropped by 0.1 per cent to close at 1,680.8 points.

Volume traded was 152,364 shares which were valued at GH¢92,624.31 while the Nordea Income Growth Fund was priced at 0.2615 with a year-to-date return of 14.59 per cent.

On the interbank market, the cedi fell against two major trading currencies; it inched 0.1 per cent against the US dollar at a mid-rate of GH¢ 3.9703; shed 0.03 per cent against the Euro at a mid-rate of GH¢4.4427 and lost 0.001 per cent against the Pound Sterling at a mid-rate of GH¢5.1568.

Trading on September 27 indicates the day closed with activities registered in 20 equities with 7 price changes, in an advance to decline ratio of 2:5; in effect the benchmark GSE-Composite Index dropped by 0.5 per cent to close at 1,774.1 points.

The GSE-Financial Stock Index also declined by 0.03 per cent to close at 1,682.2 points.

CAL Bank rose by 1.3 per cent to close at GH¢0.77 per share, whiles Ecobank Ghana Limited inched by 0.1 per cent to close at GH¢6.81 per share.

Volume traded was 134,861 shares which were valued at GH¢115,668.36; and the Nordea Income Growth Fund is priced at 0.2615 with a year-to-date return of 14.59 per cent.

On the interbank market, the cedi gained against two major trading currencies; it inched 0.02 per cent against the US dollar at a mid-rate of GH¢3.9673; shed 0.7 per cent against the Euro at a mid-rate of GH¢4.4423 and edged by 0.1 per cent against the Pound Sterling at a mid-rate of GH¢5.1569.

According to the September 26 analysis, the week opened with transactions recorded in 18 equities with four price changes; in effect the benchmark GSE-Composite Index rose by 0.4 per cent to close at 1,782.9 points.

The GSE-Financial Stock Index however remained flat at 1,682.8 points while volume traded was 2,791,996 shares which were valued at GH¢3,516,117.64 and the Nordea Income Growth Fund is now priced at 0.2615 with a year-to-date return of 14.59 per cent.

On the interbank market, the cedi gained against all three major trading currencies; it inched 0.05 per cent against the US Dollar at a mid-rate of GH¢3.9664; gained 0.5 per cent against the Euro at a mid-rate of GH¢4.4716 and rose by 0.2 per cent against the Pound Sterling at a mid-rate of GH¢5.1503.

Source: GNA