Financial sector dominates stock market 

The Financial Sector dominated the stock market, as indices point northwards leading to improved performance on the Ghana Stock Exchange (GSE), Nordea Capital Investment Stock Market review indicated.

The Nordea Capital Investment review of the second week of July (9th to 13th) obtained by the Ghana News Agency on Monday, indicated that, as a result of the improved performance, investors’ bid up listed equities across banking, Insurance and agribusiness sectors.

The Ghana Oil Company Limited (GOIL) emerged as the most traded equity in value terms, as a negotiated transaction during the week helped it as the most traded equity. It accounted for 42.4 per cent of all value traded during the week.

In effect, the benchmark GSE-Composite Index edged by 0.8 per cent to close at 2,946.3 points, this represents a year-to-date return of 14.2 per cent.  

Trading was muted on the bourse compared to the preceding week, as Republic Bank Limited led the advancers by appreciating 10.3 per cent to close the week higher at GH¢1.50 per share, whilst Ecobank Ghana rose by 8.6 per cent to GH¢8.25 per share and Enterprise Group Limited edged by 0.3 per cent to end the period at GH¢3.02 per share.

The Produce Buying Company Limited also led the laggards as the stock plummeted 20 per cent to close at GH¢0.04 per share. PBC recorded a loss of GH¢29.9 million for year 2017.  

Standard Chartered Bank backtracked by 2.3 per cent to close at GH¢26.00 per share, whiles Societe Generale declined by 1.6 per cent to close at GH¢1.24 per share and ACCESS Bank fell 0.7 per cent to close at GH¢3.97 per share.

The GCB Bank for the second straight week lost 0.6 per cent to close at GH¢5.00 per share,       

Total volume traded for the week under review was 2.9 million shares, which were valued at GH¢6.1 million.

Source: GNA