The market continued its bearish trend to close at 2,924.66 on account of negative price movement in ten counters in the agribusiness, oil, insurance and banking stocks. Accordingly, the GSE-CI shed 0.94% to close with a YTD return of 13.37% while market capitalization declined by 0.72% to settle at GH¢65.11 billion.

Performance was bearish across sector indices. Losses in 6 counters dragged the GSE-FI by 1.92% to close with a 5.46% YTD return. Fan Milk Ghana (FML) and Benso Oil Palm (BOPP) declined by GH¢0.20 and GH¢0.05 to close at GH¢12.10 and GH¢5.40, respectively. Consequently, the manufacturing index moderated by 0.69% to close with a -6.49% YTD return.

A total of 205,301 shares valued at GH¢397,601.65 changed hands compared to 81,334 shares valued at GH¢68,414 in the previous session. Standard Chartered Bank (SCB) dominated trading value, accounting for 17.82% of total value traded while Ecobank Transnational Incorporated (ETI) accounted for 38.67% of total volume traded.

The market was bearish with the aggregate bid/ask ratio closing at 0.2:1 from 0.3:1 in the previous session. We expect overall market performance to pick up this week as companies report on third quarter earnings.

Gainers & Losers

Interbank Exchange Rates

Top Trades by Volume

Market Indices

Company in Focus

AngloGold Ashanti Limited (AGA)

AngloGold Ashanti has announced that the Kibali Gold Mine is expected to deliver a record performance for the third quarter, and is on track to exceed its guidance for the year, as the operation met or exceeded designed capacity on throughput, recovery and hoisting capacity. The mine, a joint venture with the Democratic Republic of Congo (DRC) (10%), AngloGold Ashanti (45%) and Randgold Resources (45% and operator), is trending to outperform its full-year production guidance of 730,000oz. The joint venture has also reached an agreement with the DRC Ministry of Finance, for the return of outstanding value-added tax (VAT) refunds.

Market Summary

The market continued its bearish trend to close at 2,924.66 on account of negative price movement in ten counters in the agribusiness, oil, insurance and banking stocks. Accordingly, the GSE-CI shed 0.94% to close with a YTD return of 13.37% while market capitalization declined by 0.72% to settle at GH¢65.11 billion.

Performance was bearish across sector indices. Losses in 6 counters dragged the GSE-FI by 1.92% to close with a 5.46% YTD return. Fan Milk Ghana (FML) and Benso Oil Palm (BOPP) declined by GH¢0.20 and GH¢0.05 to close at GH¢12.10 and GH¢5.40, respectively. Consequently, the manufacturing index moderated by 0.69% to close with a -6.49% YTD return.

A total of 205,301 shares valued at GH¢397,601.65 changed hands compared to 81,334 shares valued at GH¢68,414 in the previous session. Standard Chartered Bank (SCB) dominated trading value, accounting for 17.82% of total value traded while Ecobank Transnational Incorporated (ETI) accounted for 38.67% of total volume traded.

The market was bearish with the aggregate bid/ask ratio closing at 0.2:1 from 0.3:1 in the previous session. We expect overall market performance to pick up this week as companies report on third quarter earnings.

Gainers & Losers

Interbank Exchange Rates

Top Trades by Volume

Market Indices

Company in Focus

AngloGold Ashanti Limited (AGA)

AngloGold Ashanti has announced that the Kibali Gold Mine is expected to deliver a record performance for the third quarter, and is on track to exceed its guidance for the year, as the operation met or exceeded designed capacity on throughput, recovery and hoisting capacity. The mine, a joint venture with the Democratic Republic of Congo (DRC) (10%), AngloGold Ashanti (45%) and Randgold Resources (45% and operator), is trending to outperform its full-year production guidance of 730,000oz. The joint venture has also reached an agreement with the DRC Ministry of Finance, for the return of outstanding value-added tax (VAT) refunds.