At the first trading session of the New Year, the Ghana? Stock? Market remained unchanged from the year end session on? Tuesday December 31, 2013
Volume and value of shares traded on Thursday? January 2?? also failed to match those registered at the 2013 year end? session.
A total volume of 77,002 shares valued at GH? 92,722.42 were exchanged in seventeen equities. This compares to 467,940 shares valued at GH?775,960.12 that? was? recorded on Tuesday.
This accounts? for 27.5% of the total volume traded, Aluworks had the lion?s share of trades with no price changes.
The benchmark Composite Index remained at? 2,145.20 points. The Financial Index was also unchanged at Tuesday?s level of 1,786.60
Financial analysts expect activity on the stock market to pick ?up in the coming days. Investors are expected to take positions ahead of the release of year end results. Equities expected to be in demand include, Stanchart, ?Ecobank, Fan Milk and Societe Generale.
On the forex market, the local currency started 2014 losing some lustre against all the major currencies. The cedi depreciated against the Dollar and the Euro, by ?2.19% and 1.98% with dealers rates on the forex market averaging GH?2.21and GH?3.05respectively
With the Pound Sterling rising on strong UK mortgage data, the local currency dipped2.29%against the pound to close atGH?3.66
The cedi also backtracked against the Swiss Franc and the South African Rand depreciating by 1.79%and 1.48% respectively. Average rates quoted on the currency market stood at GH? 2.48 and GH?0.21
Source Merban Stock Brokers Ltd
