Stocks in the financial sector also demonstrated the corresponding effect as the Financial Stock Index dropped 186 basis points from the previous week’s loss of 9.20%.

The market capitalization lost GH¢260 million to touch GH¢56.69 billion from GH¢56.95 billion a week ago. This represented 0.46% decline by close of week.

By close of the trading week shares of 16 companies exchanged hands on the bourse which was 4 less than the previous week. Trading resulted in two gainers and six laggards while eight remained unchanged. TOTAL was the only gainer with a rise of 0.33% to close at GH¢3.06.

The stock market was less active during the trading week compared to the previous week. Liquidity was 97% lower than 15 million shares that traded a week ago.

MTNGH emerged as the most liquid stock for the week by trading 66% of total market volume. However, the stock price remained unchanged at GH¢0.70 in a week that investors started to receive payment of their interim dividend of GH¢0.02 per share. ETI and CAL were the second most traded stock with a contribution of 17% and 7% of volume respectively.

FIXED INCOME MARKET

Contrary to the stock market, the fixed income market was the center of trading this week. Total trades on both the Bloomberg platform and CSD platform increased. The total volume of trades on both platforms rose by 81.99% from the previous week,    although the number of executed trades was 85 less. The market appetite was skewed towards GOG instruments as they formed 70% of fixed income instruments traded over the week. Government Treasury Note and the Cocoa Bill were also of interest to investors on the secondary market. Both instruments traded 13% and 7% of volume respectively. By close of week a total of a billion Ghana Cedis was traded compared to GH¢598 million. AFB announced the payment of coupon for the 5-Year Floating Rate Senior Unsecured Note. Qualifying date is October 8, 2019 and the payment date is October 16, 2019.