Investors’ sentiments slanted towards positivity in the first trading week of the year as the Ghana Stock Exchange (GSE) bourse opens on a bullish note, signalling a favourable year for equities.
Consequently the benchmark GSE-Composite Index rose by 0.6 per cent to close at 1,699.4 points, representing a year-to-date return of 0.6 percent, and the total volume traded was 4.3 million shares which were valued at GH₡ 13.1 million the Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Monday indicates.
Nordea Capital Stock Experts explained that SIC leads the advancers for the week, the stock appreciated by 8.3 per cent to close at GH₡ 0.13 per share, and Aluworks also rose by 7.1 per cent to close at GH₡ 0.15 per share.
According to the Nordea Capital Stock Analysts Societe Generale advanced by 6.5 per cent to close at GH₡ 0.66 per share; CAL Bank rose by 2.7 per cent to close at GH₡ 0.77 per share, whilst GCB Bank gained 2.0 per cent to close at GH₡ 3.63 per share.
TOTAL Ghana added 2.0 percent to the value of its shares to close at GH₡ 2.02 per share. Ghana Oil Company Limited (GOIL) climbed 1.8 percent to close at GH₡ 1.12 per share, whilst Ecobank Ghana edged by 1.6 per cent to close at GH₡ 6.50 per share and Standard Chartered Bank inched up by 1.0 percent to at GH₡ 12.30 per share.
According to Nordea Capital Analysts Fan Milk went up by 0.5 percent to close at GH₡11.20 per share, whilst Pharmaceutical sector leads the laggards as Ayrton Drugs backtracked by 16.7 per cent to close at GH₡ 0.10 per share and PZ Cussons dropped by 9.1 per cent to close at GH₡ 0.20 per share.
The Guinness Ghana Breweries Limited lost 8.0 per cent to close at GH₡1.50 per share. Fan Milk emerges as the most traded equity in value terms. Fan Milk accounted for the largest transaction value on the Exchange as it accounted for 67.6 percent of all value traded.
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The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently lists 42 equities (from 37 companies) and 2 corporate bonds. All types of securities can be listed.
Criteria for listing include capital adequacy, profitability, the spread of shares, years of existence and management efficiency.