The Ghana Stock Exchange Composite Index (GSE-CI) inched up by 1.36 points on the local bourse at last trading session on Friday July 9, 2021. Societe Generale Ghana Limited also dominated trading activity to end the second week of July.
The benchmark GSE- Composite index which is based on the volume weighted average closing price of all listed stocks advanced by 0.005 percent adding 1.36 points to record a new high of 2,652.54 points. Comparatively, the GSE-CI Index as at the close of previous session on Thursday July 8, 2021 stood at 2,651.18 points.
This represents a 1-week gain of 0.01 percent, a 4-week loss of 2.23 percent.
Moreover, Friday’s session recorded an overall 36.62 percent year-to-date return to investors following a gain in one stock namely, Societe Generale Ghana Limited ( SOGEGH).
Likewise, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.13 percent to reach 1,890.61 points, making it a 1-week gain of 0.2 percent, a 4-week loss of 0.31 percent, and a year-to-date gain of 6.05 percent.
Meanwhile, according to Friday’s market report, a total of 41,879 shares, corresponding to a market value of GHc 91,107.95, were traded. Compared to the previous session, Friday’s market activity has significantly declined from 1,042,761 volume of shares traded on Thursday to 41,879 total shares traded on Friday
SOGEGH Dominates Trading
However, Societe Generale Ghana Limited dominated the market out of the seven listed equities that participated in trading. Societe Generale Ghana recorded the highest volume of 22,679 traded shares, followed by Ghana Oil Company (7,610) shares, GCB Bank (5,574) shares and Total Petroleum Ghana (2,810) shares.
Meanwhile, SOGEGH stock closed its last trading day (Friday, July 9, 2021) at GHc0.95 per share on the Ghana Stock Exchange, recording a 2.15% gain over its previous closing price of GHc0.93.
More so, SOGEGH began the year with a share price of GHc0.64 and has since gained 48.44 percent on that price valuation, ranking it 2nd on the GSE in terms of year-to-date performance.
Shareholders will be pleasantly optimistic about SOGEGH knowing that the stock has accrued 6.74% over the past four-week period alone.
The current market capitalization of the Ghana Stock Exchange is GHc 61.55 billion.
The Money Market
Furthermore, the money market also showed signs of a pickup with the government meeting it’s target in the recently held auction on Friday July 9. This follows after the Government of Ghana Treasury bills was hugely undersubscribed in the previous auction.
The Government of Ghana tendered GH¢1,276.70 million of the 91-Day Bill with all being accepted. In addition, a total of GH¢124.13 million of the 182-Day bills was tendered and with all being accepted. This indicates a boost in investors’ confidence and a possible interest in the short end of the market.
However, the 3 year bond was undersubscribed at last auction held on July 9, 2021. In all, a total of GH¢149.46 million was tendered with only GH¢125.60 million bids being accepted at the rate of 13.7900-14.200 percent.
Meanwhile, the 91-day bills was issued at the interest rate of between 12.1000-12.2500 percent. The 182-day bills on the other hand was issued between the rate of 12.4000-12.6500 percent per annum.
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