Wednesday, Feb 5th 2014 | Many stock markets would be pleased to record a gain of 21 percent in a year, but this is what the financial index for the Ghana Stock Exchange has done in just over a month.
Two stocks are kicking up a storm as the GSE financial stock index climbed 20.97 percent since the start of the year. The index gained 4 percent today as it climbed by 80.42 to end at 2,161.30 from 2,080.88 on close on Tuesday.
The GSE Composite index rose by 58.58 points at the end of today’s trading to 2,416.52, up 2.5 percent on the day. On Tuesday, the index closed at 2,357.95. Overall, the GSE index is up a more moderate 12.65 percent for the year than that of the financials. On Tuesday, the main index was up by 40.20 points or 1.7 percent.
In today’s trading, 5 stocks recorded gains versus 5 on Tuesday and only one declined on Wednesday to two on Tuesday.
Standard Chartered Bank Ghana put in another strong performance with GH(¢)1.50 gain to close at GH(¢)20.50 an increase of 8.5 percent. On Tuesday the price moved up by GH(¢)1.06 to close at GH(¢)19.
On Wednesday, Ecobank Ghana put on GH(¢)0.30 to end at GH(¢)7.50 for a gain of 4.2 percent. On Tuesday, the bank closed at $7.20 after posting a GH(¢)0.30 gain. New Gold Issuer dropped GH(¢)3.13 to close at GH(¢)23 on Tuesday.
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