On the Ghana Stock Exchange (GSE,) trading activity in terms of volumes on the stock market decreased by 98.82% in the week under review as volumes of shares traded scaled down by 154,860,301.
Further, the total values of shares traded decreased to GHS 7,104,610 representing 96.89% depreciation week on week. There were 3 gainers and 2 loser at week-close.
The stock market is expected to record impressive volumes of trade this week on the back of investors reacting to the release of 2016FY earnings report on most listed companies. Block trades could dominate the market as more retail investors are likely to engage in active trade this week. GCB, SCB, UNIL, EGH and BOPP shares are expected to record capital gains on the bourse 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 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) ended last week with Intravenous Infusions Limited [IIL] trading 1,600 shares valued at GHS 144.00.
HORDS remains the only equity listed on the GAX to return 25% in capital gains to investors for the year 2016.
The Cedi lost marginally to the US Dollar and Euro at week close. The Cedi however recorded gains against the British pound. The local currency exchanged at a mid-rate of GHS 4.3750 to the USD, GHS 5.4357 to the GBP and GHS 4.6533 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 4.46% gaining at an average daily rate of 4.44 percent for the week under review.
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