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EQUITY MARKET HIGHLIGHTS: Benchmark GSE-CI closes higher; returns 39.95% (YtD)
Trading activity during the week saw the market indices extend gains registered in the previous week as a result of price appreciations in the values of five (5) equities: Unilever PLC (UNIL), Total Energies (TOTAL), Guinness Ghana Breweries Limited (GGBL), Scancom PLC (MTNGH) and FanMilk PLC (FML).

At the closing bell, the Year-to-Date (YtD) return of the benchmark GSE Composite Index (GSE-CI) improved to 39.95%, the GSE Finance Stock Index (GSE-FSI) however dropped to 1,890.15 translating into Year-to-Date (YtD) return of 6.02%.

Trade turnover declined by 17.36% as 6.9 Million shares valued at GH¢12.21 Million changed hands in fourteen (14) equities. Scancom PLC. (MTNGH) dominated trading activity, accounting for 60.39% of total value traded as Market Cap. improved marginally to close the week at GH¢62.25 Billion.

EQUITY UNDER REVIEW: SCANCOM PLC (MTNGH)
Share Price GH¢1.25
Price Change (YtD) 95.31%
Market Cap. (GH¢) 15,363.09
Dividend Yield 6.40%
Earnings Per Share GH¢0.1413
Avg. Daily Trade Volumes 1,985,689
Value Traded (YtD) GH¢246,465,196.00

MTNGH released its Half Year 2021 financial results. The company reported a growth of 24.9% in Total Revenue to GH¢3.6 Billion as Profit Before Tax improved to GH¢1.3 Billion representing a 35.5% growth from previous year. The company also reported an increase in active data subscribers by 1.8% to 11.4 million but a decrease in active Mobile Money users by 1.9% to 10.5 million.

GSE EQUITY MARKET PERFORMANCE

Indicator Current Week Previous Week Change
GSE-Composite Index 2,717.30 2,650.92 66.38pts
YTD (GSE-CI) 39.95% 36.53% 2.5%
GSE-Finance Stock Index 1,890.15 1,890.61 -0.46pts
YTD (GSE-FSI) 6.02% 6.05% -0.02%
Market Cap. (GH¢ MN) 62,248.75 61,551.37 697.38
Volume Traded 6,966,429 8,430,330 -17.36%
Value Traded (GH¢) 12,211,697.25 11,445,896.40 6.69%

TOP TRADED EQUITIES
Volume Value (GH¢)
7,374,801.50 7,374,801.50
4,382,150.13 4,382,150.13
230,808.36 230,808.36
60,000.00 21,401.60
40,783.40 40,783.40

60.4% of value traded

GAINERS
Ticker Close Price (GH¢) Open Price (GH¢) Change Y-t-D Change
UNIL 2.20 2.00 10.00% -73.46%
TOTAL 4.00 3.65 9.59% 41.34%
GGBL 1.50 1.41 6.38% 66.67%
MTNGH 1.25 1.20 4.17% 95.31%

DECLINERS
Ticker Close Price (GH¢) Open Price (GH¢) Change Y-t-D Change
GCB 5.39 5.40 -0.19% 33.09%

FML 1.40 1.37 2.19% 29.63%

SUMMARY OF JUNE 2021 MARKET ACTIVITIES

EQUITIES
Indicator Jan-Jun 2021 Jan-Jun 2020 % Change
GSE-CI YtD CHANGE 36.16% -15.83%
VOLUME 327.1 M 262.3 M 24.73
VALUE (GH¢) 307.56 M 194.01 M 58.53
GSE-CI 2,643.67 1,899.90 39.15
MKT. CAP. (GH¢M) 61,331.40 52,950.55 15.83
ADVANCERS MTNGH, EGL, TOTAL, BOPP, GCB SOGEGH, FML, UNIL, SCB
DECLINERS ETI , ACCESS, CAL
Source: Ghana Stock Exchange

FIXED INCOME MARKET HIGHLIGHTS
At last week’s auction, a total of GH¢267.32 million was raised in 91 day bills, GH¢211.38 million in 182 day bills and GH¢1.53 billion in 2-Year Note as compared to GH¢827.86 million in 91 Day bills and GH¢184.14 million in 182 Day bills at the previous week’s auction.
The 91 day bill and the 182 day bill recorded marginal changes, to close at 12.55% and 13.37% respectively.
The target for the next auction is GH¢1,101.00 million in 91 and 182 Day bills.

KEY ECONOMIC INDICATORS
Indicator
Monetary Policy Rate June 2021 13.50%
Real GDP Growth Q1 2021 3.10%
Inflation June 2021 7.80%
Reference rate July 2021 13.55%

GOG Treasuries 26th – 30th Jul. 2021 19th – 23rd Jul. 2021 Change (%)
91-Day T-Bill 12.55% 12.56% -0.01%
182-Day T-Bill 13.37% 13.36% 0.01%
364-Day T-Bill 16.40% 16.40% 0.000%
2-Year Bond 17.25% 17.60% 0.35%
BOG Offer (GH¢ MN) 630.00 1,019.00
Dealers Tender (GH¢ MN) 2,216.67 2,676.89
Amount Raised (GH¢ MN) 2,008.91 2,676.88
Source: Bank of Ghana

CURRENCY MARKET
Interbank Average Rates
Currency Cl osing Week Previous Week Y-t-D Change
(GH¢) (GH¢) %
DOLLAR 5.8011 5.8003 -0.71%
POUND 8.0633 7.9809 -2.34%
EURO 6.8808 6.8280 2.67%
YEN 0.0529 0.0525 5.77%
RENMINBI 0.8971 0.8948 -1.64%
CFA FRANC 95.3315 92.7981 2.73%
Source: Bank of Ghana

ANALYSTS
Godwin Kojo Odoom: Senior Research Analyst
Edna Awurama Fosua: Analyst
Nelson Cudjoe Kuagbedzi: Analyst