Trading on the bourse was brisk last Tuesday as activity levels exceeded Monday?s session. The stock market also returned to winning ways with gains in UT Bank and Guinness Ghana propelling the indices up.
Increased demand in Guinness Ghana resulted in the brewery leader appreciating by 7GHp to GH?2.67. UT Bank also clawed back a pesewa to end the day at 30GHp.Ghana Oil however closed the session trimming a pesewa to 99GHp.
| Equity | Value of trades | No. of Transactions | Current Price (GH?) | % of Total Value |
| Ecobank Ghana | ?????????????? 479,752 | ??????????????? 3 | 7.05 | 44.7 |
| Standard Chartered | ?????????????? 476,840 | ?????????????? 19 | 18.20 | 44.5 |
| Total Petroleum | ???????????????? 80,495 | ??????????????? 3 | 6.10 | 7.5 |
| Ghana Oil | ???????????????? 19,448 | ??????????????? 8 | 0.99 | 1.8 |
| Ecobank Trans. Inc. | ?????????????????? 5,250 | ??????????????? 4 | 0.35 | 0.5 |
Active equities
In all, a total of 165,327 shares valued at GH?1.07M were traded in twelve equities. Ecobank Ghana and Stanchart were the most actively traded stocks together accounting for 57% of total volume and 89.2% of total turnover.
At the close of the session, the benchmark Composite Index added 3.09 points to 2,202.10; bringing its year-to-date change to 2.65%. The Financial Index also edged up by 1.16 points to close trading at 2,144.06. Its year to date return stands at 20.01%.
Outlook
At the next session market analysts expect the market to remain steady as outstanding bids exceeded offers at the closing bell today. Guinness Ghana, Ghana Commercial Bank and BOPP may be amongst the movers. Demand for ETI and CAL Bank also remain high. UT Bank and Unilever may however head southwards on the back of outstanding offers.
On the currency market the Cedi was stable against the Dollar. It also regained grounds against the Rand and appreciated against the Euro, Swiss Franc and the Pound.
The Cedi remained unchanged against the Dollar despite growing optimism of the U.S. economy growing in line with the Fed?s expectations. The Cedi traded at yesterday?s rate of GH?3.19 to the Dollar.
The Euro continued to depreciate against a basket of currencies following last week?s decision by the European Central Bank to prevent deflation by cutting rates. The local currency as a result climbed 0.08% against the shared currency with rates by bank traders averaging GH?4.13 today.
Comments by the Governor of the Bank of England, Mark Carney suggesting that the Central Bank might start raising interest rates early next year failed to ease growing worries
about Scotland voting for independence later this month. The Cedi remained positive appreciating by 0.96% against the Pound at an average rate of GH?5.15.
Against the Swiss Franc and the South African Rand the local currency gained 0.11% and 0.92% to close at GH?3.42 and GH?0.30 respectively.
Source Merban Stockbrokers Ltd
