Bulls maintain hold on equities market

The equities market sustained an upward trend buoyed by price gains in 5 counters. The Ghana Stock Exchange’s Composite Index inched up by 1.87 points to ~2,385 points while the Databank Stock Index gained 22.09 points to ~30,602 points. The GSE-CI and the Databank Stock Index have recorded year to date returns of 41.22% and 37.03% respectively.

Market activity was subdued today due to the absence of block trades. The total volume of shares traded tumbled 85% d/d to 453,566 shares. These shares were valued at ~GH¢481,697.

The market breadth was positive with 5 gainers and 1 laggard. Benso Oil Palm Plantation and Enterprise Group Ltd gained 2Gp each to GH¢6.02 and GH¢3.96 respectively. GCB Bank similarly edged up by 2Gp to GH¢4.23. Standard Chartered Bank and Starwin Products Ltd inched up by 1Gp each to GH¢19.62 and 3Gp respectively. Mechanical Lloyd Company was the lone laggard today. The counter dipped by a pesewa to 8Gp.

Ghana Oil Company published Q3-2017 financial results today.

Revenues improved by +24.7% y/y to GH¢3.04 billion compared to GH¢2.44 billion in Q3-16.

Net income increased by +18.2% y/y to GH¢57.14 million compared to GH¢48.35 million in Q3-16.

CAL Bank appoints Nana Otuo Acheampong as a Non-Executive Director of the Bank effective from 2nd November, 2017.