The stock market began the week on a buoyant note with gains in four equities lifting the indices.
Stanchart led gainers adding 5GHp to close at GH?20.07. GCB Bank followed with a 2GHp gain to close at GH?5.32. Two other equities completed the list of advancers bagging a pesewa each; Enterprise Group closed at GH?1.42 while Ecobank Ghana climbed to GH?7.31.
On the other hand, UT Bank was the only decliner; it shaved a pesewa to 24GHp.
Volume and value of shares traded were impressive with 474,790 shares valued at GH?717,701 being recorded. In all nineteen equities had their shares being exchanged.
The benchmark Composite Index as a result added 1.97 points to 2,262.14. This gain in the benchmark index takes the year-to-date return on the bourse to 5.45%.
The Financial Index (FI) was also bullish leaping by 2.72 points to end the day at 2,226.44. The return on the financial index stands at 24.62%.
| Top – 5 Most Actively Traded Stocks (By Value) | ||||
| Equity | Value of trades (GH?) | % of Total Value | Shares Traded | Number of Transactions |
| Mega African Cap. | 486,653 | 67.81 | 135,558 | 13 |
| GCB Bank | 44,202 | 6.16 | 8,308 | 21 |
| CAL Bank | 31,004 | 4.32 | 30,995 | 16 |
| Ecobank Ghana | 31,281 | 4.36 | 4,281 | 18 |
| Ecobank Trans. Inc | 27,675 | 3.86 | 83,700 | 21 |
| ?MSL Research; Data: GSE | ||||
Outlook
Trends observed in recent days point to buyers seeking discount deals in Unilever Ghana and PZ Cussons, this may lead to marked down prices at the next session. UT Bank, SIC Insurance and HFC Bank also closed with outstanding offers but their prices are expected to remain stable.
On the other hand, outstanding bids for GCB Bank, Ecobank Ghana, Stanchart and Guinness Ghana may result in gains helping the indices sustain their northward drive.
The 91 and 182-day bills rose marginally at the auction held last Friday November 14, 2014. The 1-Year and 2-Year notes however remained unchanged at the previous week?s rates.
The 91-day bill added 3 basis points to 25.80% while the 182-day bill gained 2 basis points to 26.38%.
On the other hand, the 1-Year and 2-Year Notes were stable at 22.50% and 23.0%.
A total of GH?963.03 million was raised by the BoG, 50% above its target of GH?640 million.
The Cedi recovered on the currency market; rising against the Dollar, the Euro, the Pound and the Swiss Franc. It however lost grounds to the South African Rand.
Despite encouraging data on U.S consumer confidence the Cedi remained resilient against the greenback with the local currency appreciating marginally by 0.01% against the Dollar today. The Cedi thus traded at a mid-rate of GH?3.20 to the Dollar.
Comments by the European Central Bank President Mario Draghi that economic growth in the eurozone weakened over the summer; gave the Cedi an edge against the Euro with the? local currency climbing 0.41% to an average rate of? GH?3.97 on the inter -? bank market.
Against the Pound and the Swiss Franc the local currency gained 0.90% and 0.41% to close at GH?4.99 and GH?3.31 respectively.
The Rand firmed today as SA statistics showed that the volume of freight transported goods increased by 7.5% in September 2014, compared with September last year. The local currency was down 0.04% with rates against the Rand averaging GH?0.28.
