Ghana?s Financial Index Remains Unchanged

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Volume and turnover failed to match figures recorded at the week?s opening session; the benchmark Composite Index also lost grounds on the back of a lone laggard. The Financial Index however remained unchanged at the previous day?s level.

Ayrton Drugs was the only mover today; it trimmed a pesewa to end the session at 17GHp.

In all, twelve equities changed hands with a total volume of 90,524 shares valued at GH?325,332.87 being recorded. This was lower compared to figures recorded in the week?s opening session. Ecobank Ghana emerged the most active stock accounting for 45.0% of the total shares traded.

 

At the end of the session, the benchmark Composite Index trimmed 0.39 points to 2,285.51 representing a change of 6.54% this year. With no movements in the financial sector today, the Financial Index remained flat at yesterday?s 2,143.64 at a year to date return of 19.98%.

beddiOutlook

Market analysts ?expect impressive market activity at the next session based on outstanding bids for the shares of Enterprise Group, SIC Insurance, Ghana Oil and ETI at the end of today?s trading. The increased demand is expected to steady the bourse at the close of the mid-week session.

The Cedi showed resilience on the forex market as it regained grounds against the major trading currencies.

The Cedi appreciated against the Euro despite reports of an expansion in the business/service sector in the Eurozone. The local currency climbed 0.13% against the shared currency with rates by bank traders averaging GH?4.07.

The local currency also added 0.02% to its previous day?s closing price against the Pound. The Cedi thus changed hands at GH?5.11 against the Sterling today.

Against the Swiss Franc, quotes on the forex market averaged GH?3.35 as traders paid 0.19% lower for the Swiss Franc.

The Cedi also rose 0.05% against the Rand following the release of weak July Purchasing Managers Index(PMI) data today. Interbank traders quoted 28GHp on the currency market.

The Cedi for the seventh straight day remained stable against the greenback. The local currency changed hands at a mid ?rate of GH?3.04 per Dollar.

Source Merban Stockbrokers Ltd

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