Stock Market Highlights
The GSE-CI declined by 4.47% this week on the back of losses in four counters in the telecom, banking, manufacturing and insurance sectors. Market capitalization declined by 2.03% to settle at GH¢60.95 billion.

Losses in CAL (-2.38%) and SIC (-12.50%) pushed the financial index down by 0.09% to close at 1,889.27 with a 5.97% year-to-date return.
Trading Activity Declined

A total of 6,251,368 shares valued at GH¢7,008,445 changed hands this week compared to 16,218,602 shares valued at GH¢20,866,275 last week.
MTNGH dominated trading activity, accounting for 66.74% of total value traded.
Outlook
We expect prices to pick up next week as investors take advantage of bargain stocks.
Camelot Ghana (CMLT)
The 22nd Annual General Meeting of the shareholders of Camelot Ghana Ltd will be held virtually and streamed live on Tuesday, 25th May, 2021 at 10:00 a.m.

Fixed Income Market Highlights
Primary Market
Treasuries were undersubscribed by 20.03% at last week’s auction. A total of GH¢789.13 million was raised in 91 day bills and GH¢124.12 million in 182 day bills compared to GH¢416.67 million in 91 day bills and GH¢156.55 million in 182 day at the previous auction.
The 91 day bill narrowed by 5 bps to 12.79% while the 182 day widened by 4 bps to 13.57%.
The target for the next auction is GH¢1,278 million in 91, 182 and 364 day bills.

Secondary Market
Activity was concentrated in the medium term (2 -10 years), accounting for 48% of trades while securities with short term maturities (less than 2 years) accounted for 43% of trades.