GSE Composite index edges marginally

Composite Index edged marginally by 0.01 per cent to close at 2,941.2 points. Trading opened the fourth week of July (23 to 27) activities with eleven equities and two price changes as both gainer and loser were on an even keel.

CAL Bank rose by 0.8 per cent to close at GHC1.29 per share whilst Enterprise Group Limited shed 0.7 per cent to close at GHC3.00 per share, Nordea Capital Investment Stock Market report obtained by the Ghana News Agency in Accra on Tuesday indicated.

According to the report, a total of 332,648 shares exchanged hands and these were valued at GHC844,935.72.

Meanwhile, a Nordea Capital Stock review of the third week of July (16 to 20) report revealed that selling pressures re-emerged across multiple sectors as the optimism which supported the second week’s appreciation, fizzled out.

According to the report, investors re-focused on prevailing macroeconomic headwinds, as the depreciating Cedi continued to keep foreign investors at bay in effect the benchmark GSE-Composite Index shed 0.2 per cent on a week-on-week basis to close at 2,940.8 points.

The review showed that Starwin Products Limited halved its value on the bourse to close lower at GHC0.01 per share. Starwin recently made changes to its board and management with the appointment of Mr. Daniel Apeagyei Kissi as the Managing Director effective June 18.

SIC Insurance dropped 2.6 per cent to close the week at GHC0.37 per share. CAL Bank fell by 1.5 per cent to GHC1.28, whilst Total Petroleum dipped by 1.2 per cent to end at GHC4.00 per share and Ecobank Ghana also slipped by one per cent to close at GHC8.17 per share.

Fan Milk Limited led the gainers for the third week, appreciating by 0.7 per cent to close at GHC13.78 per share, whilst GCB Bank went up by 0.2 per cent on a week-on-week basis to close at GHC5.01 per share.

A total of 3.8 million shares exchanged hands in the week under review, whilst value traded also rose to GHC8.7 million; CAL Bank emerged as the most liquid equity accounting for 41.7 per cent of total value traded, representing an increase of 32.3 per cent and 42.2 per cent respectively compared to the previous week.