? Five most traded equities ?
? Five most traded equities ?

The bourse returned to winning ways on Wednesay as price appreciations in StanChart and ETI helped the indices to end their seven- session losing streak.

 

On price movements, StanChart which has come under pressure since late February, appreciated by 2GHp today to close at GH?19.02. Ecobank transnational Incorporated also clawed back the pesewa it lost yesterday to end the session at 22GHp.

 

Four equities however recorded negative price changes. With investors taking profits in Ecobank Ghana and Societe Generale, their share prices dropped 7GHp and 5GHp to GH?6.20 and 80GHp respectively. Ayrton Drugs and Unilever also trimmed a pesewa each to close today?s trading at 17GHp and GH?18.08 respectively.

?  Five most traded equities  ?

Five most traded equities
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At the closing bell, thirteen equities had had their shares traded in with a total volume of 76,013 shares valued at GH?382,542 being recorded. Ghana Commercial Bank was the most active stock ?as it registered 59.0% of volume traded and 47.0% of value traded.

 

As a result of the changes, the benchmark Composite Index gained 0.02 points to 2,284.24 representing change of 6.48% this year. The Financial Index also on the back of the declines in two banking stocks shed 0.73 points to 1,948.59. The year to date return thus stands at 9.07%.

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Outlook

Increased demand for the shares of Fan Milk, HFC Bank and Ghana Oil may edge their prices higher in subsequent ?trading sessions. Profit taking may see Enterprise Group, SIC Insurance and Societe Generale backtracking. Guinness Ghana may also slide on the back of selling pressure.

 

On the forex market, the local currency firmed up against the Pound, the Swiss Franc and the Rand but depreciated against the Dollar and the Euro.

 

Data released ?showed an unexpected drop in U.K?s unemployment rate to 6.9%; this however failed to give the Pound an edge over the Cedi. The local currency regained strength after yesterday?s slide by 0.05% and traded at a mid-rate of GH?4.60.

 

Against the Swiss Franc and the South African Rand, the local currency gained 0.07% and 0.58% to close at GH?3.12 and GH?0.26 respectively.

Source Merban Stockbrokers Ltd

 

 

The Cedi however depreciated by 0.06% against the dollar following an upbeat US retail sales data which buoyed the greenback. Traders on the currency market paid an average of GH?2.75 per Dollar.

 

The Cedi also weakened marginally against the Euro as the fall in Eurozone inflation rate to 0.5% in March boosted the shared currency. The local currency trimmed 0.01% against the Euro with rates by bank traders averaging GH?3.79.

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