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Business News Wed, 25 Sep 2019

How the stock market fared Wednesday

The end of Wednesday’s trade on the local bourse saw the market capitalization (market worth) decline by 0.08% from the previous day of GHS 56,351.19 million to GHS 56,308.90 million.

Regarding the market indices, the Composite Index declined by 4.11 points (-0.19%) to close at 2,210.43 points from 2,214.54 points to end today’s session with a week-to-date loss of 1.57%, a four-week loss of 4.28% and records an overall year-to-date loss of 14.07%. This makes the Ghana Stock Exchange now the third-worst performing exchange in Africa as of today.

The Financial Stock Index (GSE-FSI) also gave up 7.65 points (-0.40%) resulting from the losses recorded in SOGEGH (-1.49%), SCB (-1.06%) and ECOBANK (-0.51%). The Index pegged its level at 1,882.55 points from 1,890.20 points resulting in a week-to-date loss of 6.34% and a year-to-date loss of 12.59%.

The day ended with a sole gainer, namely SIC, the equity shored up by 1 pesewa (10.00%) trading 800 shares to close the day at GHS 0.11 per share.

Below is a table showing the gainer and losers for Wednesday’s trade:

A total of 159,706 shares traded on the floor of the exchange and that resulted in a market value of GHS 295,475.79. From January till date, Ecobank Transnational Incorporated (ETI), one of the very liquid equities on the market, has traded the highest in volume and value of shares on the Exchange with 3,491,614,528 and GHS 349,293,503 respectively. ETI is, however, the worse performing equity in term of return to its shareholders, it has lost 43.75% of its value from year open and currently priced at GHS 0.09.

We had 12 equities participating in today’s trade. Enterprise Group Limited was the most traded equity in volume (traded 130,600 shares) but did not see any price change.

The tables below show the topmost traded equities in terms of volume and value of midweek’s trade



There are currently a lot of offers for ETI on the exchange and that could see some further drops in the share price before close of week.

Source: Bertha Atubiga