Stock Market Highlights
• Stocks were bullish this week. Gains in four counters in the banking, insurance, telecom and petroleum marketing sectors pushed the GSE-CI
up 1.38% to a new year high of 2,055.02 with a 5.84% year-to-date return.
• Market capitalization increased by 0.53% to settle at GH¢55.62 billion.
• The GSE-FI followed the market’s trend, up 0.15% to close at 1,864.22 with a 4.57% year-todate return.
MTN Ghana Dominated Trading Activity
• A total of 19,291,203 shares valued at GH¢13,551,131 changed hands this week compared to 1,745,909 shares valued at GH¢1,205,788 last week.
• MTN Ghana dominated trading activity, accounting for 99.44% of total value traded.
• We expect prices to pick up next week as investors take advantage of bargain stocks.
Benso Oil Palm Plantation (BOPP)
Ms. Esine Okudzeto has been appointed as an Independent Non- Executive Director of BOPP with effect from November 17, 2020. Esine is the Deputy Managing Partner at Sam Okudzeko & Associates and she heads the firm’s Corporate/Commercial law group.
Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd.
Fixed Income Market Highlights
• Primary Market
• Treasuries were oversubscribed by 8.16% last week. A total of GH¢431.15 million was raised in 91 day bills, GH¢193.31 million in 182 day bills
and GH¢596.65 million in 364 day bills compared to GH¢755.82 million in 91 day bills and GH¢193.31 million in 182 day bills in the previous week.
• The 91 day bill narrowed by 2 bps to 14.06% from 14.08% while the 182 day bill averaged 14.09% from 14.13% in the previous week.
• The target for the next auction is GH¢856 million in 91 and 182 day bills.
• Secondary Market
• Securities with medium term maturities accounted for 74% of trades while securities with short maturities accounted for 16% of trades.
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