INVESTMENT TERM OF THE WEEK

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EQUITY MARKET HIGHLIGHTS: GSE Composite Index (GSE-CI) drops by 118.05 points; returns 37.92% YTD.
At the close of the week under review, the benchmark GSE Composite Index (GSE-CI) fell by 118.05 points to close at 2,677.88 translating into a YTD return of 37.92% making it the second weekly drop in a row. The GSE Financial Stock Index (GSE-FSI) appreciated by 23.45 points over the week to close at 2,006.00, also translating into a YTD return of 12.52% making it the second weekly gain in a row. Four stocks made gains in the week, with FanMilk recording daily price gains over the week summing up to a 42.71% return.
A total of 5.06 million shares valued at GH¢7.66 million traded, representing a decline of 48.2% and 42.5% respectively compared to the previous week. Market Capitalization also decreased to close the week at GH¢62.31 billion as eighteen (18) stocks traded with CAL Bank (CAL) accounting for 28.54% of the total value traded.

EQUITY UNDER REVIEW: FAN MILK PLC. (FML)
Share Price GH¢ 2.74
Price Change (YtD) 153.7%
Market Cap. (GH¢) GH¢ 318.41 million
Dividend Yield 0.00%
Earnings Per Share GH¢0.1188
Avg. Daily Trade Volumes 4,239
Value Traded (YtD) GH¢ 2,191,195.00

SUMMARY OF AUG. 2021 GFIM ACTIVITIES
GHANA FIXED INCOME MARKET
YEAR Jan.-Aug. 2021 Jan.-Aug. 2020 Change
VOLUME 140,964,497,583 65,251,333,273 116.03%
VALUE (GH¢) 146,623,859,868.39 66,558,222,713.51 120.29%
Source: Ghana Stock Exchange

GSE EQUITY MARKET PERFORMANCE

Indicator Current Week Previous Week Change
GSE-Composite Index 2,677.88 2,795.93 -118.05pt
YTD (GSE-CI) 37.92% 44.00% -13.82%
GSE-Financial Stock Index 2,006.00 1,982.55 23.45
YTD (GSE-FSI) 12.52% 11.21% 11.69%
Market Cap. (GH¢ MN) 62,314.15 63,549.56 -1,235.41
Volume Traded 5,065,892 9,777,266 -48.19%
Value Traded (GH¢) 7,666,730.42 13,327,264.51 -42.47%

TOP TRADED EQUITIES
Ticker Volume Value (GH¢)
CAL 2,957,548 2,188,585.52
GOIL 912,343 1,459,748.80
FML 490,000 1,260,042.76
MTNGH 381,691 464,789.14
EGH 265,229 2,071,427.34

Cal Bank 28.5 % of value traded

GAINERS & DECLINERS
Ticker Close Price (GH¢) Open Price (GH¢) Change Y-t-D Change
FML 2.74 1.92 42.71% 153.70%
SOGEGH 1.25 1.04 20.19% 95.31%
BOPP 2.86 2.60 10.00% 43.00%
EGH 7.81 7.80 0.13% 8.47%
RBGH 0.43 0.45 -4.44% 7.50%
MTNGH 1.12 1.24 -9.68% 75.00%
CPC 0.02 0.03 -33.33% -33.33%

SUMMARY OF AUG. 2021 EQUITY MARKET ACTIVITIES
EQUITIES
Indicator Jan.-Aug. 2021 Jan.-Aug. 2020 % Change
GSE-CI YtD CHANGE 41.66% -18.19%
VOLUME 370.19 M 378.65 M -2.23
VALUE (GH¢) 368.71 M 272.55 M 35.28
GSE-CI 2,750.37 1,846.59 48.94
MKT. CAP. (GH¢M) 62,904.96 52,568.06 19.66
ADVANCERS UNIL, ETI, FML, EGL, TOTAL, EGH, BOPP, CAL
DECLINERS SCB, MTNGH, CPC
Source: Ghana Stock Exchange

FIXED INCOME MARKET HIGHLIGHTS
At last week’s auction, a total of GH¢454.83 million was raised in 91-Day bills, GH¢696.38 million in 182-Day bills and GH¢916.78 million in 2-Year Note compared to GH¢878.41 million in 91-Day bills, GH¢137.25 million in 182-Day bills and GH¢191.60 million in 364-Day bills at the previous week’s auction.
91-Day bill fell by 0.002% to close at 12.49% Interest rate. 182-Day bills interest rate increased by 0.042% to 13.22% and the 2-Year Note yield improved by 0.250% to 17.50%.
The target for the next auction is GH¢972 million in 91- and 182-Day bills.

KEY ECONOMIC INDICATORS
Indicator Current Previous
Monetary Policy Rate July 2021 13.50% 13.50%
Real GDP Growth Q2 2021 3.90% 3.10%
Inflation August 2021 9.70% 9.00%
Reference rate September 2021 13.46% 13.51%
Source: GSS, BOG, GBA

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