The Financial Stock Index followed suite with a year-to-date loss of 12.67%. This represented a 1.38% dip from the previous weeks closing level.

Market capitalization in line with the general market performance reduced by 0.56% from the previous weeks closing of 56,618.20 million

There was activity in the shares of 13 companies this week leading to 3 gainers and 6 laggards. SIC gained the most with an increase in value by 9.09%. CAL and EGL followed with increases of 7.69% and 3.95% respectively. ETI lost 11% of its market price making it the worst loser.

This week saw a reduction in volumes traded by 4.48%.  MTNGH was the most liquid stock with a contribution of 98% to the total volumes traded. EGL and CAL were the second and third most traded stocks with a contribution of 0.99% and 0.44 respectively.

The Ghanaian Cedi depreciated marginally against the dollar by 0.08% but gained by 1.09% and 0.87% respectively against the British pound and the EURO

FIXED INCOME MARKET

There were a total of 1,277 trades in the fixed income market on both the Bloomberg and the CSD platforms. This translated to a total value traded of 593 million. The Bloomberg platform contributed 9.5% of this size.

This week saw reduced activity in the bond market as the total value traded reduced by 40% to a size of 441 million. 

Activity in the bond market was once again skewed towards the Medium term ( 2-10 years) as it recorded 78% of total trades, the short term ( below 2 years) followed with 18% of the total value settled while the longer end of the yield curve (above 10 years)  made up 4% of total transactions settled.

We expect the coming week to follow a similar pattern, with activity heavily tilted towards the medium section of the yield curve.

With regards to primary market activities, this week saw government successfully issue a 2 year note which cleared at 19%.