Financial stocks remain relatively stable compared to the previous week. The Index closed at a year-to-date loss of 3.97%, down 97 basis points from the previous week.

In a week that saw a lot more laggards than gainers, the market capitalization was affected by a 0.31% dip, to reach GH¢58.12 billion from GH¢58.30 billion a week ago.

Shares of sixteen companies were the tickers for the week which resulted in three gainers and six laggards. Fan Milk Ltd. (FML) caught some attention as the stock gained 1.56% to close at GH¢4.55 after several weeks of    decline. The stock traded 4,100 shares by close of trading.

High level volatilities of the stock market came on the back of 7,355,386 shares trading on the exchange. This represented 157% more than 2.9 million shares the previous week. However, analyst believes the market was very illiquid compared to the previous week because 6.6 million shares of total volume traded for the week were shares of MTNGH.

From a block trade of 3 million shares trading on two separate days, MTNGH emerged as the most liquid stock for the week by trading 92% of total volume for the week.

The GSE Alternative market experienced some activity with 241,000 shares of IIL exchanging hands. The stock was the     second most traded with a contribution of 3% to volume for the week. IIL also led the pack of laggards with a dip of 16.67% to close at GH¢0.05.

SOGEGH soared in the 2nd Quarter!!

Societe Generale Ghana Limited posted some positive results for the second quarter 2019 to boost the confidence of shareholders. The bank posted a 38.82% increase in profits compared to the same period last year. The rise in profits came from a 47% rise in net trading income and over 100% rise in revenue from other financial instruments, this summed up to a significant push in  “Other operating income” by 92.52%. On management efficiency, Return on Equity was 6.64% compared to 6.81% in 2018: while Return on Asset was 1.19% this year and 1.09% the previous year. Book value per share is GH¢1.02 while the current market price is GH¢0.72; the stock appears to be undervalued and a buy is recommended.

Investors may contact SIC Brokerage Ltd. to buy/sell shares and T-bill/Bonds at competitive bid.