Stock Market Highlights
Losses in Societe Generale Ghana (-7.14%) and Ecobank Ghana (-8.33%) dragged the benchmark index down by 0.18% to close at 1,842.85 with a -18.36% year-to-date return. Market capitalization declined by 0.18% to settle at GH¢53.17 billion.
The financial index followed the market’s trend, down 1.63% to close at 1,640.05 with a -18.80% year-to-date return.
ng Value Increased
A total of 6,654,599 shares valued at GH¢24,752,744 changed hands this week compared to 10,686,783 shares valued at GH¢8,090,248 last week.
GCB Ghana dominated trading activity, accounting for 70.00% of total value traded.
We expect a slowdown in trading activity next week due to the coronavirus outbreak.
Bond Savings and Loans Limited (BOND)
BOND has announced the listing of Tranche 14 of its GHS100 Million Medium-Term Note Programme on the Ghana Fixed Income Market. The security is a 1 year unsecured fixed rate note at an interest rate of 21.00% that matures on 14th October, 2021.
Fixed Income Market Highlights
Treasuries were oversubscribed by 8.31% last week. A total of GH¢619.54 million was raised in 91 day bills, GH¢55.63 million in 182 day bills and GH¢118.73 million in 364 day bills compared to GH¢854.10 million in 91 day bills and GH¢65.24 million in 182 day bills last two weeks. Investors also bought GH¢616.30 million in 5 year bonds at a yield of 19.85%.
The yield of the 91 and 182 day bill declined by 2 bps to 14.04% and 14.09% respectively, while the 364 day bill traded at an average yield of 17.00%.
The target for the next auction is GH¢1,027 million in 91 and 182 day bills.
Securities with medium term maturities accounted for 57% of trades while securities with
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