Ghana stock market opens week with a dip

The Ghana Stock Exchange (GSE) Composite Index lost 1.7 per cent to close at 1,794.7 points. The GSE-Financial Stock Index also dropped by 2.4 per cent to close at 1,684.3 points.

Trading on the second week of February started on a bearish note as 20 equities recorded movements with seven price changes, in an advance to decline ratio of 5:2, but the magnitude of losses was enough to send the indices dipping. 

Nordea Capital Investment Stock Market analysis obtained by the Ghana News Agency in Accra, on Tuesday indicated that Societe Generale however braced the storm to lead the gainers for the session, as it advanced by 1.3 per cent to close at GH¢0.76 per share. 

According to Nordea Capital Investment Stock Market Expert, Benso Oil Palm Plantation and Total Ghana Limited both climbed by 0.9 per cent to GH¢2.14 per share and GH¢2.22 per share respectively. 

The GCB Bank and Unilever Ghana also edged by 0.2 per cent to close the session at GH¢4.20 per share and GH¢8.76 per share respectively whilst Standard Chartered declined by 11.5 per cent to GH¢13.27 per share whiles Ghana Oil Company Limited lost 1.8 per cent per share. 

Volume traded was 147,275 shares valued at GH¢144,745.24.

The Nordea Income Growth Fund is priced at GH¢0.2886 with a year-to-date return of 4.98 per cent.

On the interbank market, the Cedi lost against two of its major trading currencies; it edged by 0.1 per cent against the US Dollar at a mid-rate of GH¢4.3043; lost 0.3 per cent against the Euro at a mid-rate of GH¢4.6155; dropped by 0.2 per cent against the Pound Sterling at a mid-rate of GH¢5.3526.

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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