GSE market capitalisation increases – CDH report

The Ghana Stock Exchange (GSE) closed last week with its Composite Index (GSE-CI) recording an increase of 47.56 point.

Similarly, the market capitalisation also witnessed a rise of GH¢497.88 to GH¢56,789.75, with the year-to-date return being pegged at 11.57 percent.

An inter-markets summary report by CDH Securities Limited released in Accra indicated a total volume of 6,505,761 shares valued at GH¢5,382,119.21 exchanged hands on the bourse as of Friday.

The report added that the most traded equity for the day in reference was MTNGH whose trade accounted for 64.56 percent of the total shares traded and 61.65 percent of the total value of shares traded, making it the most traded equity since the start of the year.

“There were two price changes as the market recorded two gainers on Friday. MTNGH was the day biggest gainer as the stock price appreciated by 5.33 percent to close the market at GHS 0.79 per share,” the report stated.

Unlike the start of the week where there was a decline in market turnover, which stood at 25.65 per cent, recording about GH¢399 million worth of bonds, notes and bills traded, the weekend saw a rise in this area.

“Trading as at February 11, 2021 saw the market experience an increase in turnover by 2.56 per cent as it recorded over GH¢ 714 million worth of bonds, notes and bills traded,” the report said.

“The long-term dated instruments dominated the trading activities as compared to the short and the medium-term securities as trades in bonds accounted for 69.30 percent of total trades while those of bills and notes were 26.42 percent and 4.28 percent respectively,” the report further stated.

According to the report, all the top five traded instruments accounted for 66 percent of the total volume of trades,” the CDH report pointed out.

On the forex market, the report said rates from the Bank of Ghana showed an appreciation of the cedi against its major trading currencies: the Dollar, Euro and the Pound Sterling by 0.003 percent, 0.02 percent and 0.21 percent, respectively for the weekend.

Also, banks increased their forex rates with regard to the Dollar, and the Euro by 0.038 percent and 0.513 respectively, while the rate for the Pound Sterling was, however, decreased by 0.038 percent.

“The forex market increased its forex rates with regard to the Dollar, and the Euro by 0.21per cent and 0.25 percent in that order. The rate for the Pound Sterling was, however, decreased by 0.06 percent for today,” the report emphasised.

On the commodities market, prices displayed varying results on the international market over the weekend, as oil price increased by 1.50 percent as of the weekend, though the increase was lower than that of the start of the week, which was 1.63 percent.

Regarding gold and cocoa, the report stated that prices for these two commodities on the international market decreased by 0.69 percent and 0.69 percent, individually.