Stock market rebounds into positive territory

Trading in the mid-week session on the Ghana Stock Exchange (GSE) saw the market rebound into positive territory following gains in four counters, Nordea Capital Investment Stock review of trading obtained by the Ghana News Agency in Accra revealed.

Based on the positive movement, the benchmark GSE-Composite Index thus edged by 0.1 per cent to close trading at 2,878.8 points. During Tuesday’s trading the benchmark GSE-Composite Index shed 0.4 per cent to close at 2,875.4 points.

Volume traded on the mid-week session was 738,122 shares, which were valued at GH¢1,011,570.00.

According to the Nordea Capital Investment Analysist, CAL Bank rose by 7.8 per cent to close at GH¢1.25 per share, Total Petroleum Ghana Limited climbed by 1.3 per cent to close at GH¢4.05 per share, whiles Societe Generale gained 0.8 per cent to close at GH¢1.26 per share.

The GCB Bank edged 0.6 per cent to close at GH¢5.18 per share but on the flip side, Ecobank Transnational Incorporated, dipped by 4.8 per cent to close at GH¢0.20 per share and Ecobank Ghana shed 0.5 per cent to close at GH¢8.45 per share.

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

The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.

Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.

Source: GNA