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Stock Market bounces back after marginal turbulence

Trading on the Ghana Stock Exchange bounced back as transaction opened the third week of February (13 to 17) on a positive note with activities in 12 equities and volume traded was 1,125,376 shares valued at GHȼ3,780,861.18.

Trading on the second week (6 to 10) hit marginal turbulence but transaction resumed in the third week with vigor in effect, the benchmark GSE-Composite Index gained 0.1 per cent to close at 1,807 points.

The GSE-Financial Stock Index also rose by 0.1 per cent to close at 1,692.2 points, Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Tuesday indicated.

The Enterprise Group Limited registered a block trade with no price change, but the GCB Bank advanced by 1.2 per cent to close at GHȼ4.38 per share whilst Unilever Ghana rose by 0.1 per cent to close at GHȼ8.79 per share.

According to the Nordea Capital Investment Stock Market Expert, the only laggard was SIC Insurance which dropped by 6.3 per cent to close at GHȼ0.15 per share.

The Nordea Income Growth Fund is priced at GHȼ0.2912 with a year-to-date return of 5.93 per cent.

On the interbank market, the Ghana Cedi moved in different directions against all three of its major trading currencies; it stayed flat against the USD at a mid-rate of GHȼ4.3796; dropped 0.3 per cent against the Euro at a mid-rate of GHȼ4.6351; appreciated by 0.3 per cent against the Pound Sterling at a mid-rate of GHȼ5.4611.

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 two 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.

 

Credit: GNA

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