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Market Returns To Rise Further This Week

July 18, 2017
in News
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Trading activity in terms of volumes on the stock market increased by 86.97% in the week under review as volumes of shares traded scaled up by 1,025,869.

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Further, the total values of shares traded increased to GHS8,152,921 representing 1,108.82% appreciation week on week. There were 9 gainers and 1 loser at week-close.

The stock market this week will be characterized by high levels of trade volumes of very liquid stocks like CAL, UTB, SCB, ETI and GOIL. GN Analysts anticipate that the broader market returns will remain on a positive growth trajectory on the back of expected gains on SCB, CAL, FML, GOIL and BOPP. UNIL, UTB and ETI shares will record higher volumes on their shares because of speculative trading and retail investors’ attraction of the afore-mention stocks. The market will also be influenced by news on company mid-year earnings performance reports. AS a result of high influx of both domestic and foreign investors on to the stock market, the benchmark Composite Index could inch up above the last week’s level by close of trade this week.

An analytical outlook into 2017 pictures YTD key market indices closing the year relatively better than 2016. Commodity-based stocks are expected to follow in an upward trajectory following an anticipated relative stability of major commodity prices on the world market. Most financial stocks may fail again to drive over-all returns on the market as the banking industry continues to record high levels of NPLs, financial stocks however may record lesser price volatilities as compared to 2016.

Trading activities on the Ghana Alternative Market was hushed at week close as no shares changed hands on the GAX.

HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open

The Cedi gained marginally to all the major trading currencies at week close. The local currency exchanged at a mid-rate of GHS 4.3585 to the USD, GHS 5.6362 to the GBP and GHS 4.9702to the EURO as at week close. GN Market Analysts posit that, the Cedi is poised to exhibit some stability on the forex market in the short-term.

The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 7.02% losing at an average daily rate of 7.03 per cent for the week under review.

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Tags: Business_FinanceCapitalismcurrencyEconomic history of the NetherlandseconomyfinanceFinancial marketsGCFM CedighanaGhanaian cediretail investorsShortStock market

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