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INVESTMENT TERM OF THE WEEK
Enterprise Value (EV): Enterprise value (EV) is a measure of a company's total value. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet. Enterprise value is a popular metric used to value a company for a potential takeover.
EQUITY MARKET HIGHLIGHTS: GSE Composite Index dipped further by 59.99 points to return 47.28% YTD.
The benchmark GSE Composite Index (GSE-CI) at the close of the week under review dropped further by 59.99 points to close at 2,859.57 translating into a YTD return of 47.28% as a result of loses made by five (5) equities during the week. The GSE Financial Stock Index (GSE-FSI) also lost 0.56 points to close at 2,078.33 translating into a YTD return of 16.58%.
The Market Capitalization at the close of the week decreased by GH¢627.76 million to close trading at GH¢64.22billion representing a growth of 18.11 % in 2021.
A total of 10.29 million shares valued at GH¢13.98 million traded; a decrease of 6.66% in volumes traded and 7.22% in values traded as compared to the previous week. Scancom PLC. (MTNGH) recorded most trades, accounting for 83.9% of the total value traded.
SIMPLE MOVING AVERAGE OF MOST TRADED STOCKS
|
EQUITY |
15-DAY SMA |
50-DAY SMA |
100-DAY SMA |
200-DAY SMA |
|
MTNGH |
1.27 |
1.23 |
1.23 |
1.11 |
|
CAL |
0.84 |
0.78 |
0.74 |
0.75 |
|
GCB |
5.25 |
5.33 |
5.36 |
5.10 |
|
GGBL |
1.81 |
1.77 |
1.61 |
1.34 |
|
GOIL |
1.76 |
1.71 |
1.63 |
1.58 |
|
ETI |
0.08 |
0.08 |
0.07 |
0.07 |
|
UNIL |
5.89 |
5.90 |
4.87 |
4.94 |
|
SOGEGH |
1.20 |
1.20 |
1.08 |
0.94 |
|
EGL |
2.53 |
2.41 |
2.17 |
1.85 |
|
FML |
4.05 |
4.06 |
2.78 |
1.99
|
|
Indicator |
Current Week |
Previous Week |
Change |
|
2,859.57 |
2,919.56 |
-59.99pts |
|
|
YTD (GSE-CI) |
47.28% |
50.37% |
-6.13% |
|
GSE-Financial Stock Index |
2,078.33 |
2,078.89 |
-0.56pts |
|
YTD (GSE-FSI) |
16.58% |
16.61% |
-0.18% |
|
Market Cap. (GH¢ MN) |
64,220.97 |
64,848.73 |
-627.76 |
|
Volume Traded |
10,299,238 |
11,034,092.00 |
-6.66% |
|
Value Traded (GH¢) |
13,983,438.18 |
15,071,064.39 |
|
TOP TRADED EQUITIES |
||
|
Ticker |
Volume |
Value (GH¢) |
|
MTNGH |
9,658,394 |
11,745,580 |
|
FML |
330,700 |
1,324,994 |
|
GCB |
123,584 |
648,816 |
|
CAL |
59,935 |
52,143 |
|
SOGEGH |
55,990 |
67,188 |
 |
MTN
|
GAINERS & DECLINERS |
||||
|
Ticker |
Close Price (GH¢) |
Open Price (GH¢) |
Change |
Y-t-D Change |
|
EGH |
7.80 |
7.81 |
-0.13% |
8.33% |
|
TOTAL |
5.49 |
5.50 |
-0.18% |
93.99% |
|
GGBL |
1.80 |
1.81 |
-0.55% |
100.00% |
|
FML |
4.00 |
4.05 |
-1.23% |
270.37% |
|
MTNGH |
1.20 |
1.25 |
-4.00% |
87.50% |
BENCHMARK INDICES YTD PERFORMANCE
EQUITY UNDER REVIEW: FAN MILK PLC. (FML)
|
Share Price |
GH¢4.00 |
|
Price Change (YtD) |
270.00% |
|
Market Cap. (GH¢) |
GH¢464.83million |
|
Dividend Yield |
0.00% |
|
Earnings Per Share |
GH¢-0.1560 |
|
Avg. Daily Trade Volumes |
8,169 |
|
Value Traded (YtD) |
GH¢ 7,128,419.00 |
|
SUMMARY OF OCT. 2021 EQUITY MARKET ACTIVITIES |
|||
|
EQUITIES |
|||
|
Indicator |
Jan.-Oct. 2021 |
Jan.-Oct. 2020 |
% Change |
|
GSE-CI YtD CHANGE |
47.52% |
-18.60% |
|
|
VOLUME |
423.90M |
439.39M |
-3.53 |
|
VALUE (GH¢) |
445.25M |
341.70M |
30.30 |
|
GSE-CI |
2,864.31 |
1,837.27 |
55.90 |
|
MKT. CAP. (GH¢M) |
64,27M |
53,11M |
21.00 |
|
ADVANCERS |
BOPP, FML, RBGH, EGL, TOTAL |
||
Source: Ghana Stock Exchange
|
OTHER AFRICAN STOCK MARKETS |
|||
|
Country |
Current Level |
|
YTD |
|
|
6,992.48 |
|
1.64% |
|
|
11,431.24 |
|
3.88% |
|
|
164.77 |
|
8.32% |
|
|
43,308.29 |
|
7.54% |
|
|
68,615.00 |
|
15.50% |
|
|
195.80 |
|
34.69% |
Source: Bloomberg
KEY ECONOMIC INDICATORS
|
Indicator |
Current |
Previous |
|
Monetary Policy Rate |
November 2021 14.50% |
13.50% |
|
Real GDP Growth |
Q2 2021 3.90% |
3.10% |
|
Inflation |
October 2021 11.00% |
10.60% |
Source: GSS, BOG, GBA
SBL RECOMMENDED PICKS
|
Equity |
Price |
Outlook (Reason) |
|
MTN GHANA |
GH¢ 1.20 |
Strong 2021 Q3 Financials |
|
BOPP |
GH¢ 6.65 |
Strong 2021 Q3 Financials |
|
CAL BANK |
GH¢ 0.87 |
Strong 2021 Q3 Financials |
|
ECOBANK |
GH¢ 7.80 |
Strong 2021 Q3 Financials |
|
SOGEGH |
GH¢ 1.20 |
Strong 2021 Q3 Financials |
|
FANMILK |
GH¢ 4.00 |
Positive Sentiment |
|
CURRENCY MARKET |
|
||
|
Interbank Average Rates |
|||
|
Currency |
Closing Week |
Previous Week |
YTD Change |
|
|
(GH¢) |
(GH¢) |
% |
|
|
5.9142 |
5.9113 |
-2.60% |
|
|
7.8804 |
7.9578 |
-0.08% |
|
|
6.6854 |
6.6892 |
5.67% |
|
|
0.0522 |
0.0519 |
7.19% |
|
|
0.9249 |
0.9261 |
-4.59% |
|
|
98.1179 |
98.0369 |
-5.42% |
Source: Bank of Ghana
|
COMMODITIES MARKET |
|
||
|
Interbank Average Rates |
|||
|
Commodity |
Closing Week |
Previous Week |
YTD |
|
(US$/bbl) |
73.81 |
78.55 |
42.49% |
|
(US$/oz) |
1,787.23 |
1,844.16 |
-5.85% |
|
(US$/MT) |
2,405.40 |
2,461.45 |
-0.78% |
Source: Bloomberg, Bullion By Post, ICCO
JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO
Except for a few short periods, stocks have consistently outpaced the rate of
ANALYSTS
Godwin Kojo Odoom: Senior Research Analyst
Edna Awurama Fosua: Analyst
Nelson Cudjoe Kuagbedzi: Analyst
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