On the Ghana Stock Exchange (GSE,) trading activity in terms of volumes on the stock market decreased by 28.26% in the week under review as volumes of shares traded scaled down by 611,474.
Further, the total values of shares traded increased to GHS 1,750,456 representing 55.06% appreciation week on week. There were 8 gainers and 3 losers at week-close.
The market is expected to follow similar trade patterns this week howbeit with improvement in the volumes of trade. Financial Stocks will continue to move the market this week; GCB, EGH, SCB, CAL, TOTAL and UNIL shares are expected to record capital gains at week close.2016FY earnings report could influence investors decision and trade patterns this week.
An analytical outlook into 2017 pictures YTD key market indices closing the year relatively better than 2016. Commodity-based stocks are expected to follow in an upward trajectory following an anticipated relative stability of major commodity prices on the world market. Most financial stocks may fail again to drive returns on the market as the banking industry continues to record high levels of NPLs, financial stocks however may record lesser price volatilities as compared to 2016.
Trading activity on the On the Ghana Alternative Market (GAX) ended last week with all equities trading flat.
HORDS remains the only equity listed on the GAX to return 25% in capital gains to investors for the year 2016.
The Cedi lost to marginally to the US Dollar and Euro but gained to the GBP at week close. The local currency exchanged at a mid-rate of GHS 4.3004 to the USD, GHS 5.3619 to the GBP and GHS 4.6293 to the EURO as at week close. GN Market Analysts posit that, the Cedi is poised to exhibit some stability on the forex market in the short-term.
The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 3.11% gaining at an average daily rate of 2.69 percent for the week under review.
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