Stocks delivered positive returns with the Composite Index gaining 0.01% from the previous week’s 2,492.92 points. However the week closed with a year-to-date loss of 3.07%.
Financial stocks recovered this week, rising 11.03 points from 2,125.60 points the previous week. This was due to the downward trend of prices of GCB, CAL and EGH.
Shares of 19 companies fuelled market activities to produce four gainers and five laggards while the share price of ten companies remained unchanged.
TOTAL has had a whopping 41.45% capital gains in February and this week the stock gained 17.33% to close at GH¢4.40; As a result, analysts anticipate a looming attempt of shareholders to start taking in their gains.
The league of laggards was led by GCB with a dip of 1.91% to close at GH¢4.10; GOIL also lost 0.34% to close at GH¢2.93.
Valued at GH¢3.37 million, shares traded by close of week was 1,923,558; up 127% a week ago. Many activities were concentrated on the third trading session as SOGEGH emerged as the most liquid stock for the week by trading 34% of total volume.
OUTLOOK for the Week.
On the back of a slow recovery of the economy, it is expected that the stock market will pick up. TOTAL may level off its upward price movement, though it may continue to rise in a diminishing way. CAL may catch some investor attention as investors are in wait for the release of the bank's full year 2018 financial results. A buy below GH¢1.00 is recommended