Investor exhibit optimism in stock market
By Francis Ameyibor, GNA
Accra, Jan. 16, GNA - Investors continued to demonstrate optimism in the Ghanaian economy as activities on the Ghana Stock Exchange (GSE) hiked up during the second week (January 9 to 13) trading which translated into the bidding up of equities on the bourse.
In effect the benchmark GSE-Composite Index rose by 2.1 per cent on a week-on-week basis to close at 1,735.7 points, which represents a year-to-date return of 2.8 per cent
A total of 10.8 million shares exchanged hands, but liquidity however declined by 87.7 per cent on a week-on-week basis to GH¢ 1.6 million, the Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Monday shows.
According to the Nordea Capital Stock Market Expert, the Investor optimism persists was led by financial stocks as price movements trended on optimistic sentiments as the advance to decline ratio came in at 4:1.
According to Nordea Capital Stock Expert the Banks remained highly preferred as the sector continues to offer a defensive play to the prevailing macroeconomic headwinds.
Ecobank Transnational Incorporated gained 30 per cent on a week-on-week basis to close at GH¢ 0.13 per share, to emerge as the top performer, whilst Ecobank Ghana, its local subsidiary followed closely behind its parent, the stock advanced by 5.4 per cent to close GH¢ 6.85 per share.
The GCB Bank also rose by 1.1 per cent to close the week at GH¢ 3.67 per share.
According to the Nordea Capital Stock Expert, Total Ghana capped the gainers list edging by 1 per cent to close at GH¢ 2.04 per share. The only laggard for the week was CAL Bank, which fell by 1.3 per cent to close at GH¢ 0.76 per share.
Standard Chartered in the week under review emerged as the most traded equity on the bourse, the stock accounted for 39.5 per cent of all value traded within the week.
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.
Nordea Capital is dedicated to growing and preserving client assets and building trust, in partnership with financial professionals and institutions worldwide.
The GSE is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990.
It currently lists 42 equities from 37 companies and 2 corporate bonds. All types of securities can be listed.
Criteria for listing include capital adequacy, profitability, spread of shares, years of existence and management efficiency.
GNA