Ghana Stock Exchange ended week with increase in composite index

Trading on the Ghana Stock Exchange (GSE) ended last Friday with a 11.74-points increase in the GSE’s Composite Index.

The CDH Securities Limited daily report on the GSE copied to the Ghanaian Times, indicated that the market capitalisation also increased by GH¢122.90 to GH¢ 62,629.27, with the year-to-date return at 41.11 per cent.

“A total volume of 645,246 shares valued at GH¢830,573.87exchanged hands on the bourse. The most traded equity on Friday was MTN Ghana whose trade accounted for 98.36 per cent of the total shares traded and 94.72 per cent of the total value of shares traded,” CDH Securities Limited, said.

For the Fixed Income Market, CDH Securities Limited, said  trading as of last Thursday saw the market experience a decrease in turnover by 9.13 per cent as it recorded over GH¢572 million worth of bonds, notes and bills traded.

It said the long-term dated instruments dominated the trading activities as compared to the short and the medium term securities as trades in bonds accounted for 65.11 per cent of the total trades while that of bills and notes were 11.09 per cent  and 23.79 per cent  respectively.

For the forex market, the CDH Securities Limited stressed that forex rates from the Bank of Ghana showed that the cedi depreciated against the euro by 0.102 per cent.

It said the cedi however, remained unchanged against the dollar and the pounds sterling and banks kept their forex rate with regards to the dollar, the euro and the pound sterling unchanged.

 On the international commodities market, the CDH Securities report explained that commodities prices displayed varying results on the international commodities market as cocoa price declined by 1.45 per cent.

It said Gold and Oil prices however, increased by 1.20 per cent and 1.10 per cent respectively as of last Friday.

BY KINGSLEY ASARE