On the Ghana Stock Exchange (GSE,) Trading activity in terms of volumes on the stock market decreased by 83.99% in the week under review as volumes of shares traded scaled down by 9,033,366.
Further, the total values of shares traded increased to GHS 3,089,962 representing 89.02% depreciation week on week.
There were 5 gainers and 1 loser at week-close.
The market is expected to continue its impressive this week. Trading volumes and values will most likely follow an upward trend as the week progresses. GCB, TOTAL, SCB, CAL and ETI are picks for the week.
Activities of retail investors will continue to move share prices on the bourse this week. Low priced equities and financial stocks will dominate trade on the Ghana Stock Exchange. Significant block trade activities will also be a common feature in daily trade sessions.
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 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 activity on the Ghana Alternative Market (GAX) was hushed during the week under review as no shares changed hands on the Alternative Market.
HORDS remains the only equity listed on the GAX to return 25% in capital gains to investors for the year 2016.
The Cedi lost to marginally to all the major trading currencies at week close.
The local currency exchanged at a mid-rate of GHS 4.2376 to the USD, GHS 5.2186 to the GBP and GHS 4.5222 to 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 1.12% gaining at an average daily rate of 0.83 percent for the week under review.
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