Stock market
stock market

The stock market pared some of yesterday?s gains, with the indices easing on the back of selling pressure in two financial stocks.

Stock market

Benso Oil Palm was the only advancer, it ended the day a pesewa higher to GH?3.80. On the downside, two other equities eased a pesewa each; Societe Generale slipped to 83GHp while SIC Insurance retreated to 44GHp.

 

A total of 92,065 shares valued at GH?188,591 were exchanged in thirteen equities.

 

At the end of the session, the benchmark Composite Index was lower at 2,221.66 against the previous close of 2,222.57. It however remains in a positive territory with a year to date change of 3.56%.

 

The Financial Index also trimmed 1.34 points to 2,148.85. This takes its year to date gain to 20.28%.

 

Top – 5 Most Actively Traded Stocks (By Value)
Equity Value of trades (GH?) % of Total Value Shares Traded Number of Transactions
Ecobank Ghana 21,534 11.4 21,752 17
Ghana Comm. Bank 66,094 35.0 12,472 21
Ghana Oil 12,969 6.9 13,100 5
CAL Bank 12,513 6.6 12,900 7
Ecobank Trans. Inc 71,862 38.1 10,093 11
?MSL Research; Data: GSE

 

 

 

Outlook

 

The indices are expected to remain steady ?as bids outstripped offers at the end of the day?s trading. Stocks to watch out for at the next session include Standard Chartered, GCB Bank and Benso Oil Palm.

 

Although the market has been relatively volatile in recent times due to investor uncertainty about the economy, the release of the Q3 financials may boost activity levels before the turn of the year.

 

The Cedi was flat against the Dollar but appreciated against the Euro and the Pound. It however lost value against the Swiss Franc and the Rand.

 

Data released on Tuesday showed a rebound in US existing-home sales giving support to the Dollar but a 0.1% climb in US inflation ensured that the greenback remained stable against the Cedi. The Local currency was thus unchanged at yesterday?s midrate of GH?3.20.

 

The Cedi appreciated against the Euro on reports that the European Central Bank could expand its bond-buying programme. The shared currency traded at GH?4.07 on the interbank market today against yesterday?s quote of GH?4.08. The local currency also added 0.39% against the Swiss Franc to average GH?3.37.

 

On the other hand, the Cedi lost grounds against the Pound and the South African edged down by 0.04% and 0.52% to change hands at GH?5.16 and GH?0.29 respectively.

Source Merban Stockbrokers Ltd

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