The Movers And Shakers
Gse Continues It’s Upsurge

The stock market?s northward rally continued to gather momentum with gains in four equities lifting the indices higher on Thursday.

Fan Milk led movers climbing 3GHp to close at GH?6.80. Enterprise Group was also in demand edging up by 2GHp to GH?1.92 while Societe Generale and Benso Oil Palm bagged a pesewa each to close at 76GHp and GH?3.19 respectively.

 

   The movers and shakers

The movers and shakers

On the flip side, UT Bank failed to hold on to the pesewa it gained yesterday sliding to 44GHp from 45GHp.

Volumes improved with 501,573 shares valued at GH?542,105 being recorded.

With these changes the benchmark Composite Index closed trading up by 0.95 points to 2,218.05. This represents a change of 3.40% this year.

The Financial Index defied a laggard edging up by 0.34 points to close at 1,889.91. The year to date return on the Financial Index stands at 5.78%.

Outlook

Market analysts ?expect the market to close the last session of the week higher with Standard Chartered, Ecobank Ghana, Total Petroleum and Ghana Commercial Bank the likely gainers based on bidding the trends.

On the currency market, the Cedi was under pressure as it was unable to cling to gains registered against the Euro and the Swiss Franc yesterday. The local currency also lost grounds to the Dollar, the Pound and the Rand.

Against the Dollar and the Euro, the Cedi was down 0.65% and 0.84% to GH?2.32 and GH?3.14 respectively.

The Cedi also shaved 1.33% and 0.86% against the Pound and the Swiss Franc to GH?3.84 and GH?2.54 respectively.

Against the South African Rand the Cedi trimmed 0.28% with rates on the interbank board averaging GH?0.21.

Source Merban Stockbrokers Ltd

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