SIC Insurance leads advancers on Ghana stock market

The SIC Insurance leads the advancers on the Ghana Stock Exchange (GSE) for the fourth week trading as it gained 7.1 per cent to close at GH¢0.15 per share. 

The GCB Bank followed suit, with 3.2 per cent rise to close at GH¢3.92 per share and Guinness Ghana Brewery Limited (GGBL) emerged as the most traded equity, accounting for 26.8 per cent of total value traded.

The GSE-Composite Index rose by 0.5 per cent to close the fourth week at 1,767.9 points. 

This represents a year-to-date return of 4.7 per cent, Nordea Capital Investment Stock Market analysis made available to the Ghana News Agency in Accra, on Monday. 

A total of 2.2 million shares exchanged hands in the week under review, while value traded also dipped to GH¢1.1 million.  

According to the Nordea Capital Investment Stock Expert, during the fourth week, the price movements were seen across multiple sectors, with financial stocks accounting for five out of eight equities that recorded gains. 

Total Ghana and Societe Generale; climbed by 2.4 per cent and 1.5 per cent each to close at GH¢2.15 per share and GH¢0.67 per share.

According to Nordea Capital Investment Stock Expert the Standard Chartered Bank appreciated by 0.9 per cent to close at GH¢13.02 per share; whilst GGBL rose by 0.7 per cent to close at GH¢1.51 per share.

The Benso Oil Palm Plantation edged by 0.5 per cent to GH¢2.09 per share and Ecobank Ghana inched by 0.1 per cent to close at GH¢6.86 per share.

The HFC Bank emerged as the only laggard for the week and the stock lost four per cent of its value to close at GH¢0.72 per share. This the lowest price since the year began.

Yields on Treasury securities increased slightly as the 91 day T-bill edged from 15.80 per cent in the previous auction to 15.94 per cent. 

The 91-day bill saw bids up to GH¢815.34 million with government accepting GH¢797.54 million and the 182-day bill also saw a marginal rise of 0.02 per cent on account of lower demand relative to the previous session. 

It received bids up to GH¢286.18 million with government accepting GH¢272.58 million at a weighted average interest rate of 17.10 per cent. 

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.

Source: GNA

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