The increase in share prices had an impact on the market capitalization as it rose marginally by 0.53% to settle at GH¢58.73 billion by close of week.

Investors were inclined towards financial stocks as five out of six gainers were financial stocks. The Financial Stock Index surged 165 basis points to a year-to-date loss of 2.96% at the close of the trading week.

The shares of CAL saw an upward movement as it rose steadily to GH¢1.04 at the close of week, this represented a 11.83% leap to join the pack of gainers. The stock market was characterized by high level volatility in the shares of ACCESS Bank in its price during this week that the bank unveiled its new brand identity. ACCESS gained at 13.33% to close at GH¢3.40.

Total volume traded was 4.76 million shares, seven times higher than the previous week’s volume. MTNGH was the most liquid stock for the week by trading 59% of total volume, this came on the back of a block trade of 2 million shares trading on the second trading day. ETI and GOIL attracted some investors’ attention as they traded 15% and 12% of volume respectively. The GSE     Alternative Market (GAX) saw some activity with IIL exchanging 1,600 shares; the stock however lost a pesewa during the trade to close at GH¢0.07.

The Week Ahead !!

In the coming week, we expect to see the stock market to remain bearish; however a few stocks such as CAL and EGH may see some price increases as demand continue to mount up. FML may continue to drop due to the fact that investors are exiting their positions amid low investor confidence.

On the Fixed Income front, ESLA PLC issued and completed a successful 10-Year Bond program during the week. This represented tranche 3 bond under the GH¢10 billion bond which sought to raise a maximum of GH¢1 billion and mature on June 15, 2029. Investors may contact SIC Brokerage for their fixed income (Bonds and Treasury Bills) on both primary and secondary market at competitive rates.