INVESTMENT TERM OF THE WEEK
Stock Symbol (Ticker): A stock symbol is a unique series of letters assigned to a security for trading purposes. Symbols are just a shorthand way of describing a company's stock. When a company issues securities to the public marketplace, it selects an available symbol for its shares, often related to the company name. Investors and traders use the symbol to place trade orders.
ETFs: GREAT DEAL FOR INVESTORS
An exchange-traded fund (ETF) is a type of security that tracks an index, sector, commodity, or other assets, 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 Stock Exchange (GSE) and six other African stock exchanges.
The current share price of New Gold ETF (GLD) is GH¢265.80.
EQUITY MARKET HIGHLIGHTS: The Ghana Stock Market closes higher by 13.31 points over the week to close at 2,462.80; returns -11.71% YTD.
At the close in Accra, the Ghana Stock Exchange Composite Index (GSE-CI) rose by 13.31 points to close at 2,462.80 points translating into a YTD return of -11.71%, while the GSE Financial Stock Index (GSE-FSI) climbed 2.78 points to close at 2,074.41 points translating into a YTD return of -3.60%.
Twenty-three (23) equities traded over the week, ending with three (3) gainers. The best performers of this week’s session on the GSE were NewGold (GLD), Trust Bank Gambia Ltd. (TBL) and Scancom PLC. (MTNGH). They gained GH¢4.40, GH¢0.08 and GH¢0.01 to close trading at GH¢265.80, GH¢0.68 and GH¢0.88 respectively. Market Capitalization close the trading week at GH¢64.84 billion.
A total of 1,665,534 shares valued at GH¢30,434,719.53 were traded during the week. This week’s data shows a decline of 224.80% and 248.99% in volume traded and trade turnover respectively. MTNGH emerged as the most traded stock during the week, accounting for 87.55% of overall trade volume, whilst GLD accounted for 95.29% of the total value traded.
GSE EQUITY MARKET PERFORMANCE
Indicator |
Current Week |
Previous Week |
Change |
2,462.80 |
2,449.49 |
13.31 pts |
|
YTD (GSE-CI) |
-11.71% |
-12.18% |
-3.86% |
GSE-Financial Stock Index |
2,074.41 |
2,071.63 |
2.78 pts |
YTD (GSE-FSI) |
-3.60% |
-3.73% |
-3.49% |
Market Cap. (GH¢ MN) |
64,842.21 |
64,690.55 |
151.66 |
Volume Traded |
1,665,534 |
512,787 |
224.80% |
Value Traded (GH¢) |
30,434,719.53 |
8,720,701.69 |
248.99% |
TOP TRADED EQUITIES |
||
Ticker |
Volume |
Value (GH¢) |
MTNGH |
1,458,141 |
1,282,503.81 |
GLD |
109,107 |
29,000,943.60 |
ETI |
51,952 |
7,792.80 |
BOPP |
10,675 |
73,764.25 |
TBL |
8,000 |
5,380.00 |
KEY ECONOMIC INDICATORS
Indicator |
Current |
Previous |
Monetary Policy Rate |
August 2022 24.50% |
22.00% |
Real GDP Growth |
March 2022 3.30% |
5.40% |
Inflation |
October 2022 40.40% |
37.20% |
Source: GSS, BOG, GBA
GAINERS |
||||
Ticker |
Close Price (GH¢) |
Open Price (GH¢) |
Price Change |
Y-t-D Change |
GLD |
265.80 |
261.40 |
4.40 |
144.75% |
TBL |
0.68 |
0.60 |
0.08 |
100.00% |
MTNGH |
0.88 |
0.87 |
0.01 |
-20.72% |
SBL RECOMMENDED PICKS
Equity |
Price |
Opinion |
Market Outlook |
MTN GHANA |
GH¢ 0.88 |
Strong 2022 Q3 Financials |
Higher Ask Price |
BOPP |
GH¢ 6.91 |
Strong 2022 Q3 Financials |
Low offers |
CAL BANK |
GH¢ 0.80 |
Strong 2022 Q3 Financials |
Available offers |
ECOBANK |
GH¢ 6.64 |
Strong 2022 Q3 Financials |
Bargain bids |
SOGEGH |
GH¢ 1.00 |
Strong 2022 Q3 Financials |
Low demand |
FANMILK |
GH¢ 3.00 |
Positive Sentiment |
Low demand |
EQUITY UNDER REVIEW:
NEWGOLD (GLD)
Share Price |
GH¢265.80 |
Price Change (YtD) |
144.75% |
Market Cap. (GH¢) |
GH¢770.82 million |
Dividend Yield |
- |
Earnings Per Share |
- |
Avg. Daily Volumes |
5,717 |
Value Traded (YtD) |
GH¢247,118,988 |
SUMMARY OF OCTOBER 2022 EQUITY MARKET ACTIVITIES |
|||
Indicator |
October 2022 |
October 2021 |
% Change |
GSE-CI YTD CHANGE |
-11.80% |
47.52% |
- |
GSE-CI |
2,460.31 |
2,864.31 |
-14.10% |
GSE-FSI YTD CHANGE |
-3.81% |
16.79% |
- |
GSE-FSI |
2,069.89 |
2,082.12 |
-0.59% |
VOLUME |
21.34 M |
23.30 M |
-8.41% |
VALUE (GH¢) |
150.06 M |
34.16 M |
339.29% |
MKT. CAP. (GH¢M) |
64,727.18 |
64,270.46 |
0.71% |
ADVANCERS & DECLINERS |
GLD, BOPP, TBL | GOIL, GCB, SIC |
Source: Ghana Stock Exchange, SBL Researchsss
GSE AGAINST SELECTED AFRICAN STOCK MARKETS |
|||
Country |
Current Level |
|
YTD |
(Ghana) GSE-CI |
2,462.80 |
|
-11.71% |
(Botswana) BGSMDC |
7,600.41 |
|
5.87% |
(Egypt) EGX-30 |
12,515.71 |
|
42.80% |
(Kenya) NSE ASI |
129.02 |
|
-3.75% |
(Nigeria) NGSE ASI |
44,492.73 |
|
-14.79% |
(South Africa) JSE ASI |
72,576.86 |
|
11.50% |
(WAEMU) BRVM |
193.56 |
|
-6.62% |
Source: Bloomberg
CURRENCY MARKET |
|
||
Currency |
Closing Week |
Previous Week |
YTD Change |
|
(GH¢) |
(GH¢) |
% |
|
13.1056 |
13.0759 |
-54.17% |
|
15.6213 |
15.4263 |
-47.97% |
|
13.5766 |
13.5147 |
-49.71% |
YEN |
0.0937 |
0.0941 |
-44.26% |
YUAN |
1.8415 |
1.8465 |
-48.70% |
CFA FRANC |
48.3155 |
48.5368 |
98.83% |
Source: Bank of Ghana
COMMODITIES MARKET |
|
||
Commodity |
Closing Week |
Previous Week |
YTD (%) |
BRENT CRUDE OIL (US$/bbl.) |
87.08 |
94.86 |
10.06% |
GOLD (US$/oz) |
1,751.52 |
1,766.80 |
-4.01% |
COCOA (US$/MT) |
2,358.20 |
2,426.53 |
-3.75% |
Source: Bloomberg, Bullion by Post, ICCO
JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO
ANALYSTS
Godwin Kojo Odoom: Senior Research Analyst
Obed Owusu Sackey: Analyst
Wisdom Asigbetse: Analyst
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