The week started on the Ghana Stock Exchange on a very good note for some stocks, as gains in five equities helped the GSE-Composite Index to its sixth successive win, up 1.28 points from 1,036.23 points, to close at 1,037.51 points. The year-to-date return went beyond 7% at 7.07%. A 3.03% rise in SIC’s stock price pushed the GSE-Financial Stock Index 0.51 points clear of its previous closing of 874.28 points to 874.79 points.
The volume recorded on the market on Monday was 5.43 million shares, the second largest volume this year. The trade value was GHS0.74 million and this was exchanged in the process. ETI dominated trading, with 95.80% of the shares traded and 77.57% of the value traded.
GOIL and Fan milk (FML) closed at year-highs of GHS0.53 and GHS2.60 respectively. Other gainers were MLC, SIC and TOTAL, Meanwhile no losses were recorded in this session.
Investor-confidence keeps increasing despite the fact that Ghana is in the election year. Political stability, strong believe in democracy and the peaceful transition from the late President to President John Mahama could be contributing factors. How sustainable would this be? Would the Composite index and Financial Stock Index continue to rise in the heat of the elections?