Market numbers to soar due to pending holiday

The market numbers in terms of values and volumes of shares so far has been impressive this week on the back of increased speculative activities on stocks such as UT Bank [UTB] and SIC.

As rightly predicted by GN Analysts at week open, the total value of shares traded has soared above last week’s level with the current value of actively trades shares on the local bourse exceeding GHS 4 million.

Total Market Capitalization of the stock market which represents the value of the bourse has also improved, rising above last week close level by some GHS 44.47 million.

Trading activity for the last day of trading this week will be characterized by strong presence market speculators. Most investors will most likely close market deals on a high note on the back of pending public holiday. Market numbers [i.e. volumes and values] will rise above last week’s Friday’s. Equities like CAL, SOGEGH, UTB and GOIL are likely to record price changes on the bourse today.

Trading activity on the bourse ended with 3 gainers [UTB, CAL and BOPP] yesterday. TOTAL shares topped the trading chart in terms of volume as 45,200 shares worth GHS 100,344.00 changed hands. Returns on the Composite and Financial Stock Index pegged at 14.94% and 16.60% respectively.

On the Ghana Alternative Market [GAX]

Trading activity on the Alternative Market ended with Intravenous Infusions Limited [IIL] trading 25,000 shares valued at GHS 2,000.00. IIL recorded a pesewa loss to close trading at GHS 0.08.

HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open.

On the Currency market

The Cedi LOST marginally to all the major trading currencies on the inter-bank market yesterday.

The local currency exchanged at a mid-rate of GHS 4.3532 to the USD, GHS 5.5127 to the GBP and GHS 4.8566 to the EURO. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the inter-bank market now records a year-to-date depreciation of 5.80%.