The Ghana stock market closed Friday July 4 just slightly below the peak to February 21, with the GSE Composite Index up 11.54 percent for the year to date and GSE financial stock index gaining 21.08 percent.
For year to date for the week ending February 21, the GSE Composite Index was up 12.85 percent and the GSE financial stock index gained 21.36 percent. The market had declined after peaking with the Main index falling back to a 4.59 percent gain and 6.32 percent for the GSE financial stock index after the country’s currency fell sharply versus the US dollar and Treasury bill rates climbed to more than 24 percent.
The main market closed at 2352.45 points on Friday 27 of June, closed up by July 4 at 2,392.68. The GSE financial stock index finished 2,163.13 compared to 2,102.52 on June 27.
8 stocks rose for the week and 4 declined, a big improvement over the previous week, when 9 fell to only 4 hat rose. By the end of the week 13 stocks rose in price for the year to date and 14 fell.
HFC Bank, the subject of an offer by Trinidad’s Republic to acquire the majority ownership, had the greatest gain at 51 percent followed by Ecobank Transnational Incorporation, with 47 percent, Ecobank Ghana 31 percent and Total Petroleum 29 percent. The greatest losers were African Champion Industries down 50 percent, Trust Bank down 31 percent, Pz Cussons Ghana 29 percent and Produce Buying Company down 24 percent.
GSE – advancing stocks just ahead
Ghana stock market continues to recover from the decline the market suffered since peaking in February. For the week ending May 30, the market closed with the composite index at 2,319.12 with 8 stocks rising while 7 declined. For the previous week the composite index closed at 2,243.70 as the prices of 7 stocks climbed and 11 that declined. The financial services index closed the week at 2,033.20, up from 1,916.77 at the close of the prior week. During the week 3,235,500 shares were traded versus 10,128,018 in the week before. At the end of trading there were bids for 20 securities and offers for 31, an indication of weakness in the overall market.
Sic Insurance gained 6 percent to close at GH¢0.37 and Societe Generale Ghana was up 20 percent to GH¢0.83.
The big losers are African Champion Industries down 25 percent to close at GH¢0.03, Enterprise Group with a loss of GH¢0.17 to close at GH¢1.99 for an 8 percent decline, Produce Buying Company fell 13 percent to GH¢0.14.
13 stocks down, 5 up on GSE
The number of stocks declining in the market to May 9 increased from 11 the previous week to 13 at the end of the current week but the number advancing climbed from 1 to 5 as trading on the Ghana Stock exchange continued to decline and has almost wiped out the gains enjoyed in the two months to February. 
At the close of the week the market continue to show signs of weakness while the two indices declined with the GSE Composite Index closing at 2247.01 compared with 2,255.20 at the end of the previous week’s trading and the GSE Financial Stocks index that closed at 1,899.49 compared with 1,913.11, leaving the GSE FS index up just 6.3 percent for the year to date.
The level of trading for the week declined to 6,488,878 million shares compared with the previous week at 9.8 million shares.
In trading African Champion Industries fell 33 percent in trading 3,963,100 units on Friday with the price ending at GH¢0.04, Aluworks lost 17 percent to close GH¢0.05, Eco Bank Transnational lost 9 percent to close at GH¢0.20, Sic Insurance Company lost 13 percent to close at GH¢0.35 and Societe Generale Ghana lost 6 percent to close at GH¢0.62 were the stocks that suffered the greatest loss. Tullow Oil Plc closed with a 16 percent gain to end the week at GH¢35.
At the end of the week there was still signs of weakness with only 18 stocks having bids and 27 offers compared to 15 to 29 at the end of the week before.
