Ghana Stock Exchange rallies on Investors’ Optimism

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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 per cent, 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 said 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 per cent to the value of its shares to close at GH₡ 2.02 per share. Ghana Oil Company Limited (GOIL) climbed 1.8 per cent 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 per cent to at GH₡ 12.30 per share.

According to Nordea Capital Analysts Fan Milk went up by 0.5 per cent 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 per cent of all value traded.

Nordea Capital is an investment bank, licensed by the Securities and Exchange Commission and offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

The GSE is the principal stock exchange of Ghana. Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.

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