The Ghanaian stock market signalled high volatility to the start of the month of September. The GSE Composite Index finished the week with a year low of –12.27% (year-to-date).

The year-to-date loss of the Financial Stock Index closed at 9.20%, down 205 basis points from a year-to-date loss of 7.15% the previous week.

Market capitalization dropped to GH¢56.94 billion from GH¢57.60 billion a week ago. This represented 1.13% fall on the back of price drop in CAL, ETI, MTNGH, EGH and FML by close of the trading week.

The first week of the September saw shares of 20 companies   exchange hands on the bourse. This resulted in a gainer and six laggards while thirteen remained unchanged.

Although a block trade of 14,340,200 shares of MTNGH occurred on the third trading day, liquidity was lower than the previous week’s total volume of 3 billion. This was a 99% decline to record a total of 15 million shares by close of week.

MTNGH emerged as the most liquid stock for the week. The stock traded 96% of total volume, with a drop in price by 2.78% to close at GH¢0.70 by week end.  EGL and ALW followed as the most traded stock with 2% and 1% of volume respectively.

The Week Ahead!!!

In the coming week, the stock market is expected to remain     bearish due to low investor confidence in the financial sector and high investors’ interest in the Fixed Income market. Reports from the Central bank showed that bank deposits increased by 22% signaling a regain of confidence in bank deposits. In the medium term, the rebound is expected to reflect in the stock market.  

In the news, CLYD announced for that, the Company’s Annual General Meeting will be held at the Osu Presby Hall, on Thursday, September 26, 2019 at 10 am.

Total volume traded in the Fixed Income market was 22% lower than 773 million the previous week. This was on the back of 1,879 executed trades. In a related development, AFB announced the coupon payment for the Tranche 10 (AFB 1000) of the 5-Year Floating Rate Senior Unsecured Note on September 26, 2019. Qualifying date is September 17, 2019 and the register will close on September 18, 2019 to September 25, 2019.

Investor may contact SIC Brokerage for their fixed Income (T-Bills and Bonds) trades on both primary and secondary market.