Transactions Review: Half Year 2012 on Ghana Stock Exchange (CBL Research)

CBL Research: – Half Year 2012 trading results of the Ghana Stock Exchange indicate that a total of 72.54 million shares changed hands on the market representing a 12.04% decline from the 82.47 million shares that were traded on the market for the first half of 2011. Out of the 72.54 million shares traded on the GSE for HYR 2012, a total of 40.07 million shares (representing 55.24%) were financial stocks thus maintaining the sector as the lead sector of the market in terms of volume. The FMCGs and Pharmaceuticals sector had a 23.18% share of the total market volume for the period. This was largely due to a block trade in AYRTN that was executed in March 2012.

The Mining and Oil sector stocks also accounted for 15.03% of the total volume for the period under review. The remaining sectors namely Manufacturing and Trading, Agribusiness and ICT & Paper Products collectively made up for 6.54% of the total market volume traded for the half year.
AYRTN and GOIL emerged as the top traded equities with 19.87% and 14.81% respectively. ETI was the third ranked stock in terms of volume with 11.41% market share and was followed closely by SG-SSB with 11.34% whereas CAL assumed the fifth position with 10.12%. The rest of the market accounted for 32.45% of the total trade volume recorded for HYR 2012.
All the transactions that were completed on GSE for HYR 2012 were worth GHS39.02 million (USD22.42 million). Compared with the GHS67.46 million (USD44.89 million) trade value that was recorded in HYR 2011, the trade value for HYR 2012 is 42.18% lower. The Financial stocks maintained their market dominance again in terms of market value as all the financial stock trades represented 57.57% of the total traded value. In the market volume distribution, FMCGs and Pharmaceuticals came next to the Finance sector with a 19.19% share followed by the Mining and Oil sector with 16.81%. The remaining sectors collectively accounted for 6.42% of the total market  value recorded for the first half of 2012. It is worth noting that the ICT and Paper Products sector recorded a relatively insignificant share of 0.003% of the overall market value for HYR 2012.
GCB emerged as the top equity for HYR in terms of value traded with 17.67% of the total market value. GOIL which has been a stellar stock for the year in terms of liquidity and price performance took the second spot in terms of value traded with an 11.13% share of the overall value traded.  FML emerged as the third best stock for the period in terms of value traded with an 10.97% share, followed by SG-SSB with 8.54% and 6.98% for EBG. The rest of the market made up for 44.71% of the total market value traded.
A total of 11,765 deals were executed on the GSE for the first half of 2012. This translates into 95 deals per day. An average of 0.59 million shares worth GHS0.32 million (USD0.18 million) traded on each session in HYR 2012.

Compiled by  Nana Agyei Opoku-Agyemang, Analyst @ CBL Research

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