Bull Market: A bull market is the condition of a financial market in which prices are rising or are expected to rise. The term "bull market" can be applied to anything that is traded, such as bonds, real estate, currencies, and commodities.

ETFs: GREAT DEAL FOR INVESTORS

An exchange traded fund (ETF) is a type of security that tracks an index, sector, commodity, or other asset, but which can be purchased or sold on a stock exchange the same as a regular stock.

New Gold ETF (GLD), an exchange traded fund sponsored by Absa Capital, offers the opportunity to invest in gold bullion. The company issues listed instruments (structured as debentures) backed by physical gold. Each debenture is approximately equivalent to 1/100 ounces of gold bullion, which is held with a secure depository on behalf of investors. The debentures are listed on the Ghana (GSE) and six other African stock exchanges.

The current share price of New Gold ETF (GLD) is GH¢108.60. GLD this week closed at GH¢108.60 per share. The price has been stable since November 2, 2021, recording a 4.2% gain over its previous closing price of GH¢104.25 on November 1, 2021.

EQUITY MARKET HIGHLIGHTS: The Ghana Stock Market slips; lost 38.04 points over the week to close at 2,728.76; returns -2.17% YTD.

The benchmark GSE Composite Index (GSE-CI) at the close of the week shed 38.04 points to close at 2,728.76 translating into a YTD return of -2.17%. The GSE Financial Stock Index (GSE-FSI) also lost 4.02 points to close the week at 2,127.91 translating into a YTD return of       -1.11%. Six (6) equities recorded price declines as against no gainer for the week under review.

Market Capitalization thus decreased by GH¢384.20 million to close the trading week at GH¢63.71 billion.

A total of 5.92 million shares valued at GH¢6.46 million traded during the week compared to 5.50 million shares valued at GH¢5.93 million which traded the previous week.

 Scancom PLC. (MTNGH) recorded the most trades per value traded for a second week running as it accounted for 44.45% of the total value traded.

GSE EQUITY MARKET PERFORMANCE

KEY ECONOMIC INDICATORS

    Source: GSS, BOG, GBA

JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO

• Typically, stocks outperform all other investment options over a ten-year period making them a must for long term portfolio.
• They are excellent vehicles for retirement.

Except for a few short periods, stocks have consistently outpaced the rate of

ANALYSTS

Godwin Kojo Odoom: Senior Research Analyst

Obed Owusu Sackey: Analyst

Nelson Cudjoe Kuagbedzi: Analyst

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