GSE-Composite Index retreated as ETI reaches year low

Following losses on three banking stocks, the GSE-Composite Index retreated to 1,667.26 points, from the previous closing of 1,676.59 points. The year-to-date return on the local bourse fell 47bps to -16.42%.

The GSE Financial Stock Index also lost ground. It closed 13.39 points lower at 1,558.69 points. The return on financial stocks fell to -19.24% from -18.55%.

The turnover on the market was 0.05 million, 89.13% less than the previous session’s trade volume. Trades in ETI represented 76.73% of the turnover. The total value recorded from trading was GHS0.05 million, of which SCB chalked up 42.77%. 

ETI dropped by a pesewa to close at a year-low of GHS0.10, amidst excess supply of the stock. The stock price may slip further if the sell-side pressure persists. EGH and SCB also saw their share prices depreciate. No gainers were recorded.

EGL, ETI & TOTAL slipped by a pesewa each whiles ALW gained 2 on GSE

The stock market was down on Monday after losses on three stocks. The GSE Composite Index closed at 1,787.94 points, down 7.79 points from 1,795.73 points. The yield on the bourse is -10.38%.

The GSE financial stock index also lost ground, shedding 10.57 points to 1,675.23 points.

EGL traded the most shares, accounting for 40.96% of the 0.15 million shares traded and 45.55% of the GHS0.32 million realized from trading. The traded value on the bourse declined by 37.61% from the previous closing whereas the turnover went up by 15.17%.

EGL, ETI and TOTAL slipped by a pesewa each to close trading at GHS2.41, GHS0.19 and GHS3.95 respectively. ALW was up by GHS0.02 to close at GHS0.13.

Courtesy- CBL

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

Fri.18.05.12: Ghana Stock Exchange (GSE) Market Update.


Friday, GSE Market Update;

CAL Brokers: 
Courtesy: CAL Brokers

In the market today, the major indices, the GSE-Composite Index and the GSE-Financial Stock Index, gained some ground following price appreciation in two equities.

The GSE-Composite Index closed at 1,046.94 points from 1,041.30 points and the financial stock benchmark closed 6.99 points higher at 910.75 points. The year-to-date return on the market rose to 8.04%. 

A total of 2.00million shares, the third-highest volume this year,  were exchanged for GHS 0.92million. 
The trade volume was more than 10 times in excess of that of the previous session, and the value, 5 times more. 
Ghana Oil (GOIL) dominated trading for the second successive session, with 95.12% of the trade volume and 88.79% of the market turnover.

GOIL closed at a record high of GHS0.43, after gaining 2 pesewas. Ecobank Transnational Inc. (ETI) also gained marginally, closing at GHS 0.14 from GHS 0.13. Ecobank Ghana (EBG) and Total Petroleum (TOTAL) recorded losses. EBG, the banking giant lost GHS0.03 to close at a year-low of GHS 3.00. 

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Courtesy: Ghana Stock Exchange
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Market Participants: List of Stock Brokerage Firms in Ghana

Most people have been asking me about who to contact if they want to start an investment. I have realized that most people in Ghana do not know who to contact or where to go in order to buy shares of companies listed on the Ghana Stock Exchange. I must admit that, some brokers in Ghana do not approach people to talk to them about investments or contact potential investors.
Moreover, people are very ignorant about the various investment instruments that exist in these brokerage firms. It is bad for the growth of the market.
So, I have decided to list the various broker/dealers in the Ghanaian financial market and their websites or locations. I believe this would help some potential or young investors to know where to go, or who to talk to.

As listed on the Ghana Stock Exchange’s website, these are some market participants (Licensed Dealing Members );

Please follow the links above to find more about these Market participants or Brokerage firms. There are other market participants like Custodians, Registrars and Government Securities Dealers. The link to the Ghana Stock Exchange website would help you find out more.
Don’t forget to come back to this blog. eStock Analysis Blog would always get you the information you need to be a better investor.
You can always ask questions or leave a comment, I’ll gladly answer or help you find the answer.

Keep investing..

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Tues. 15.05.12: Ghana Stock Exchange (GSE) Market Update.

Tuesday GSE Market Update:


The second day of trading on the Ghana Stock Exchange this week has ended with some equities trading shares.
A 3.26% price gain in Tullow Oil (TLW) pushed the GSE-Composite index up, despite losses in two equities, to close the day at 1,048.50 points from 1,048.38 points. The change brings the year-to-date return to 8.20% as reported by CAL Brokers.
Courtesy: CAL Broker Ltd. (15.05.2012)


The Financial Stock Index however, declined by 0.69 points to close at 908.83 points.

A total of 0.99 million shares valued at GHS 0.50 million were traded. The trade volume and value, compared to the previous session, increased by more than five and six times respectively.

CAL Bank (CAL) dominated trading in terms of volume, accounting for 78.57% of the total trade volume while Unilever Ghana (UNIL) led in terms of value with 47.39%.

TLW was the only gainer.  Benso Oil Palm Plantation (BOPP) and Enterprise Group ltd (EGL) recorded losses.


Courtesy: Ghana Stock Exchange & CAL Brokers

Ghana Stock Exchange (GSE): Market Update: 08.05.12

In today’s trading on the Ghana Stock Exchange, the GSE Composite Index went up by 7.13 point to close at 1,059.64 points. A gain in the share price of Ecobank Transnational Incorporated (ETI) held off the losses in two other equities to push the Index.
Since ETI is a financial stock, the GSE Financial Stock Index also closed at 921.40 points from a previous of 910.92 points. This Index is still trading below the base index of 1000 points. As reported by CAL Brokers (CBL), the overall market return climbed to 9.35%.
The volume of shares traded increased by 57.81% amounting to a 12.93% increase in value, compared to the previous session. About 0.28 million shares valued at GHS 0.11 million were traded.
Out of the total volume traded, GOIL out-performed all other equities by trading 83.45 % of volume and this is about 77.09% of the traded value.
ETI was the only gainer and although it closed at GHS 0.14 from GHS 0.13 (1 pesewa gained), it had the capacity to move the market index up by some points despite the loses recorded by Standard Chartered Bank (SCB) [ -0.1%] and TOTAL [-0.15%] to close at GHS 51.30 and GHS 26.14 respectively.

Courtesy: Ghana Stock Exchange & CAL Brokers Ltd (CBL)