Trading Activity

Five equities managed gains during the week under review but that was not enough to help the Composite Index recover from the previous week?s slide as the effect of ten other laggards proved greater.

?Trading Activity

The benchmark Composite Index ended the week shedding a marginal 0.96 points to 2,246.05. This brings the market?s year to date return to 4.70%.


The Financial Stocks Index (FSI) was however resilient as it bagged 4.56 points to 1,904.05. The return on the FSI as a result rose to 6.57%.


What Moved

Ecobank Ghana and Tullow Oil were the biggest price gainers edging up by 10GHp each to GH?6.30 and GH?35.0 respectively. Ghana Commercial Bank followed climbing 8GHp to GH?4.08 while Societe Generale rose to 69GHp from 62GHp. HFC Bank completed the list edging up by 3GHp to GH?1.32.


On the other hand, Standard Chartered was under pressure sliding 46GHp to GH?18.50 while Benso Oil Palm shaved 8GHp to GH?2.40; Fan Milk dropped 5GHp to GH?7.42 while Enterprise Group trimmed 4GHp to GH?2.16. UNIL, TOTAL and GGBL were down 3GHp each to GH?18.05, GH?6.42 and GH?5.75 respectively. PZ Cussons, UT Bank and TBL completed the list sliding to 58GHp, 40GHp and 24GHp respectively.


Trading Activity


In all twenty four equities had their shares changing hands with a total volume of 2.25 million shares valued at GH?5.45 being recorded. CAL, EGL and ETI were the most traded stocks together accounting for 59% of total volume.


Ghana Commercial Bank, Ecobank Ghana and Societe Generale have seen demand growing during the week under review. This may lead to their shares ticking higher in the coming weeks. Guinness Ghana, Enterprise Group and Fan Milk may however be amongst the stocks under selling pressure due to profit taking


The 182-day bill increased at the auction held last Friday May 09, 2014. The 91-Day bill lost grounds but the 1-Year and 2-Year notes remained steady.


The 182-day bill added 5 basis points to 21.31% while the 91-day bill lost 2 basis points to 24.06%. The 1-Year and 2-Year notes were unchanged from the previous week?s 22.50% and 23.00%.


A total of GH?704.85 million was raised at the auction, marginally below the initial target of GH?731 million.


Source Merban Stockbrokers Ltd


On the forex market, the local currency enjoyed a mixed week as it was on the backfoot against the Dollar, Euro and Pound. It however climbed against the Swiss Franc and the South African Rand.


The Cedi, lost 1.03% against the greenback to close the week at GH?2.89.


Against the Euro average rates at the end of the week were GH?3.95, 0.04% higher than the previous week?s mid rates. The Cedi also shaved 0.08% against the Pound to GH?4.84.


The local currency was however resilient against the Swiss Franc and the South African Rand appreciating by 0.20% and 0.02% to GH?3.24 and GH?0.27 respectively.


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