On the Ghana Stock Exchange (GSE,) stock market activity soared above its previous day’s levels which led to a rise in the total value of shares traded.
Swelling bids on GCB, EGH and SCB shares could lead to further capital gains on these equities.
Trade volumes today are expected to rise above yesterday’s level as the weekend approaches.
More trade deals are expected to close on a high note. The broader market return i.e. the benchmark Composite Index inched up by 0.14 points to level at 1,767.06 leading to a further increase in the YTD returns.
Stock prices took aggregate downturns in 2016 as only 4 stocks managed to register capital gains at year -close while a whopping 23 stocks recorded capital losses.
According to GN Analysts, investors looking to enjoy high real returns on the equity market this year should consider FML, UNIL, ETI, EGH, CAL, GCB, ACCESS, ADB & GOIL. Selection of stocks should however be done after a thorough assessment of firm-specific risks alongside the risk appetite of prospective stockholders.
Trading activity on the bourse ended with 3 gainers [GCB, SIC & SOGEGH] and 1 loser [HFC] yesterday. CAL topped trading chart again in terms of volume as 111,200 shares worth GHS 84,512.00 changed hands. Returns on the Composite and Financial Stock Index pegged at 4.62% and 6.94% respectively.
Trading activity on the Ghana Alternative Market [GAX] was hushed yesterday as no shares changed hands.
HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open.
The Cedi LOST marginally to all the major trading currencies yesterday.
The local currency exchanged at a mid-rate of GHS 4.2680 to the USD, GHS 5.3709 to the GBP and GHS 4.5624 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 2.29%.
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