Ghana Stock Exchange at the end of the week ending Jul 11, could be regarded as exhibiting mixed personalities, with the indices being down, but at the end of the week a few more stocks were up in price that those that fell.
The overall market took a breather from its recent gains by week end, as the main index having started at the week at 2,392.68 points, ended at 2,365.72 points. The Financial index closed at 2,144.52, down from 2,163.13 at the end of the previous week. For the week, 8 stocks recorded gains versus 7 that declined. A total of 1,314,746 units traded during the week.
Of the 38 listings, 18 had bids and 22 offers, as the market continues to reflect lack of interest in a large portion of the market.
Stocks with the major prices changes during the week are, Benso Oil Palm Plantation up 8 percent, Mega African Capital up 6 percent and Produce Buying Company up 6 percent but Camelot Ghana fell 7 percent followed by Guinness Ghana Breweries down 6 percent and HFC Bank down 6 percent.
Ghana Market returns close to peak
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.
Ghana stocks up for another week
Ghana Commercial Bank 2013 annual general meeting – the bank’s stock rose 27% for the week
The Ghana stock market continues to recover from the decline the market suffered since peaking in February. During the week the market closed with the composite index at 2,343.98 with 11 stocks rising while 7 declined, a marked change over the previous week when the composite index closed the previous at 2,319.12 points with the prices of 8 stocks climbing and 7 declining.
The financial services index closed the week at 2,066.58 up from 2,033.20 the week before. During the week, 1,868,436 shares were traded, down from 3,235,500 units in the week before. At the end of trading there were bids for 18 securities and offers for 28, an indication of weakness in the overall market.
Gains| The stocks closing with strong gains include, Benso Oil Palm Plantation that rose by 6 percent to close at GH¢2.48, Ecobank Ghana gained GH¢0.55 or 8 percent to reach GH¢7.05, Ecobank Transnational Incorporation gained GH¢0.03 or 15 percent to close at GH¢0.23, Ghana Commercial Bank closed at GH¢5.35 as the price jumped by 27 percent or GH¢1.14, HFC Bank closed up GH¢0.11 to GH¢1.45 for an 8 percent gain, Produce Buying Company gained 8 percent to GH¢0.14, Sic Insurance gained 14 percent to close at GH¢0.42, Societe Generale Ghana was up 11 percent to GH¢0.92 and Sam Wood gained 33 percent to end at GH¢0.04.
The big losers are Enterprise Group with a loss of GH¢0.57 to close at GH¢1.42 for a 29 percent decline, Mega African Capital lost 11 percent in value to close at GH¢3.10 and Mechanical Lloyd ended at GH¢0.29 down by 12 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.
