Overview of the First Half of 2012 on the Ghana Stock Exchange: Half Year Review.

With a market capitalization of about GHS 55,015.14 million ( USD 31,612.04 million ), the Ghana Stock Exchange closed the first half of the year on a good note and has began the second half with great prospects.
The market’s major index which includes all listed stocks, The GSE Composite Index (GSE CI) opened the year below the base index (1000) with 969.03 points. As at the last trading session in the first half, the GSE CI recorded 1045.48 point with a percentage change of 7.89% as compared to 18.89% gain in the same period last year.

Unlike the GSE Composite Index, the GSE Financial Stocks Index (GSE FSI) opened at 863.09 and still closed below the base index at 899.86 pts.

In the first half, there was no Initial Public Offer (IPO), right issue, bonus issue or de-listings. As at 30 June 2012, the exchange can only boast of one company with preference shares (SCB PREF), one company with depository (AADS). After several trading sessions, Ghana Oil Co. Ltd (GOIL) topped the gainers. Click to watch the Price Movement of the BestPerforming Stock on GSE: GOIL. Meanwhile, the top laggard was Aluwork s Ltd (ALW). The total trades (deals) for the six months accumulated to 11,765 with trade volume amounting to 72.54 million.
As reported by CBL Research, the Average volume per day (in millions) is 0.59. The total value for these sessions in six months was GHS 39.02 million (USD 22.42 million) and an average value per day of GHS 0.32 million which is about USD 0.18 million.
Top Gainers
Now let’s look at the top gainers for the first half. The highest gainer as I already indicated is GOIL, it opened at 0.32p and closed 0.49p which is 53.13% change. Guinness Ghana Brewery ltd (GGBL) was the second top gainer with 50.33% gain after opening at GHS 1.53 and closing at GHS 2.30. Benso Oil Palm Plantation (BOPP) was the third top gainer with a 49.09% after closing at GHS 1.64. Ecobank Transnational Inc. (ETI) unbelievably was the fourth gainer. It opened the year at 0.10p and closed (half year) at 0.14p which is a 40% capital gain. Starwin Product Ltd (SPL) also made 40% gains after gaining a pesewa to move from 0.03p at opening, to 0.04p at closing of the first half.
Top Losers
ALW led the losers and was down from 0.13p to 0.05p to record -61.54p loss. Enterprise Group Ltd (EGL) also fell by -26.32% after dropping from 0.38p to 0.28p. PZ Cussons (Ghana) Ltd (PZC) which opened at 0.24p closed the sessions at 0.19p to record -20.83% loss.
Fan Milk Ltd (FML) and SIC, my favorite stocks lost some values to record -18.57% and -17.50% losses respectively.  These could only be paper losses for those who have not sold in the first half. Some stocks on the market has began active trading in the second half despite the fact that we are in the election year.
Source of Data: GSE & CBL Research

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