GSE failsThe stock market was unable to bounce back on Wednesday March 19, 2014. ?The various market? indices ?closed the mid-week session lower.

On price movements, HFC Bank was the only gainer appreciating by a pesewa to close the session at GH?1.13.

SIC Insurance and Standard Chartered Bank however dropped two pesewas each to close at 50GHp and GH?20.07 respectively. CAL Bank also shaved a pesewa to close the session at GH?1.

A total volume of 189,592 shares valued at GH?482,192 changed hands in seventeen equities. The most traded stocks were Ghana Commercial Bank, CAL Bank, Societe Generale, SIC Insurance and Ghana Oil which together accounted for 79.2% of volume.

At the closing bell, the benchmark Composite Index was 1.61 points to 2,389.94.? This represents a change of 11.41%.

The Financial Index also slipped by 2.22 points with HFC Bank?s gain failing to defy Societe Generale and SIC Insurance?s slide. The Financial Index closed the session at 2,126.59 representing a year to date return of 19.03%.

Outlook

In the days ahead market watchers don?t foresee a change in market trends. They expect the shares of Fan Milk and Total Petroleum to sustain their northward climb. SIC Insurance may claw back the pesewas it lost.

On the flip side, market watchers foresee the share prices of Societe Generale, Stanchart and Guinness Ghana continuing to be under selling pressure.

On the currency market, the Cedi closed the mid-week session on a mixed note appreciating against the Euro, the Pound and the Swiss Franc. It however slipped against the Dollar and the South African Rand.

The Cedi recovered from yesterday?s reverse against the Euro and the Pound appreciating by 0.08% and 0.14% against the 18 nation currency and the Pound Sterling respectively.? Average rates on the interbank market stood at GH?3.58 and GH?4.27 respectively verses the Euro and the Sterling respectively.

Against the Swiss Franc, the Ghanaian currency also regained some grounds; it added 0.03% today to close at GH?2.94.

The Cedi however shaved 0.09% and 0.38% against the Dollar the Swiss Franc with rates on the interbank market averaging GH?2.57 and GH?2.94 respectively

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