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Ghana stocks market continues 2017 bullish transactions

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The Ghana Stock Exchange (GSE) continued its 2017 bullish trajectory as transactions were recorded in 12 equities with five price changes; consequently the benchmark

GSE-Composite Index inched up by 0.03 per cent to close at 1,703.8 points.

The GSE-Financial Stock Index also rose by 0.1 per cent to close at 1,564.4 points, and volume traded was 412,275 shares which were valued at GH¢646,377.91 the Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, indicates.

Nordea Capital Investment Analysts classified the advancers as Ghana Oil Company Limited (GOIL), Standard Chartered, and GCB whilst the backtrackers are Ayrton Drugs and Guinness Ghana Breweries Limited.

According to Nordea Capital Analysts identified GOIL climbed 1.8 per cent to close trading at GH¢1.12 per share, whilst Standard Chartered gained 0.4 per cent to close at GH¢12.26 per share and GCB added 0.3 per cent to its value to close at GH¢3.62 per share.

On the flipside, Nordea Capital Analysts explained that Ayrton Drugs backtracked by 16.7 per cent to close at GH¢0.10 per share, whilst Guinness Ghana Breweries trimmed by 1.8 per cent to close at GH¢1.60 per share.

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 is our hallmark.

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.

Source: GNA

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