Ghana: Stock Market Review for Week 32
Five equities closed the week higher but the market indices could not extend their northward climb as they were pegged back by six laggards. The benchmark Composite Index thus gave up 9.50 points to close at 1,026.73. This drop in the benchmark index takes the year-to-date return on the bourse to 5.96%. The Financial Index also shed 9.0 points to close at 865.28. This brings its year-to-date change to 0.25%.
What Moved This Week
Total Petroleum was the lead gainer this week, adding 17GHp to close at GH¢18.17. Fan Milk also continued its uptick, climbing 2GHp to close the week at GH¢2.61. The three other advancers gained a pesewa each. MLC rose to 10GHp while CAL and SIC inched up to 32GHp and 34GHp respectively.
On the other hand, Stanchart dropped GH¢1.85 to close at GH¢43 while Ecobank eased to GH¢3.08. BOPP was also down to GH¢1.56; SG-SSB fell to 44GHp while Aluworks and CPC slipped to 5GHp and 1GHp respectively.
A total of 6.41 million shares were exchanged in twenty seven equities, 62% above the previous week’s 3.96 million. Value of trades was however down to GH¢1.49 million, as against the GH¢2.75 million registered for the prior week. ETI (1,177,834) was the most traded stock accounting for 85% of total volume.
We look forward to the market recovering from this week’s slide in the coming week. Impressive earnings results and anticipated demand by bargain investors should give the market indices a lift. Stocks projected to catch the eye of investors based on their quarterly results include CAL, SCB, EBG, FML, TOTAL and GCB.