Downward price movement in 3 counters pushed the benchmark index down by 21.85 points (-0.74%) to close at 2,952.18, while YTD return moderated to 14.44%. Accordingly, market capitalization shed 0.33% to settle at GH¢65.58 billion.

Banking and insurance stocks Enterprise Group Limited (-0.66%), SIC Insurance (-6.67%) and Ecobank Ghana Holdings (-9.81%) dragged the financial index down by 49.82 points (-2.01%) to close with a 7.49% YTD return. Manufacturing stocks recorded no change for the sixth straight session, closing with a -5.84% return YTD. Ghana Oil Company (GOIL) gained GH¢0.10 to close at GH¢3.30.

Activity levels increased with 81,334 shares valued at GH¢68,414 changing hands compared to 16,484 shares valued at GH¢38,064 in the previous session. This represents a 393.41% jump in total volume traded and a 79.73% change in total value traded for the day. Produce Buying Company Limited (PBC) dominated trading volume, accounting for 30.98% of total volume traded while Ecobank Ghana Holdings (EGH) accounted for 67.69% of total value traded.

The market was net offered with the aggregate bid/ask ratio closing at 0.3:1 from 0.4:1 in the previous session. Offers exceeded bids in Enterprise Group Limited (EGL), Starwin Products Limited (SPL), Intravenous Infusions Limited (IIL) and Republic Bank Ghana Limited (RBGH).

Gainers & Losers

Interbank Exchange Rates

Top Trades by Volume

Market Indices

Company in Focus

Cal Bank Limited (CAL)

CAL Bank reported a 0.89% increase in Profit After Tax to GH¢114.65 million for the first 9 months ending 30th Sep 2018, due to a compression in margins amid lower interest rates and weakening Non-Funded Income. Operating Income of the Bank increased by 5.02% to GH¢359.78 million while Net Interest Income rose by 10.33% to GH¢286.53 million.

Loans and Advances of the Bank jumped 22.78% to GH¢2.26 billion cushioned by a 19.98% increase in Customer’s Deposits for the 9 months period ending 30th Sep 2018. Total Shareholder’s Fund increased by 21.21% to Gh¢768.18 million as a result of an increase in Stated Capital to GH¢350 million through a recent capital injection of GH¢250 million supported by a Bonus Issue of GH¢78.32 million and transfer of GH¢171.68 million from income surplus.