Major World Market Indices in Comparison with GSE Composite Index

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(courtesy:  MorningStar & GSE )

How the stock market stretched winning streak to 6 successive sessions

The stock market stretched its recent winning streak to six  successive sessions, following gains in three stocks. The GSE-Composite Index closed at 1,644.23, up 3.20 points from 1,449.86. The GSE-Financial Stock Index followed suit, climbing 1.75 points to close trading at 1,451.61.

Liquidity was thin on the market today as the 0.02 million shares traded, is the lowest volume recorded in 2013. The corresponding trade value was GHS0.08 million, down 95% from the previous session’s turnover. Guinness Ghana (GGBL) dominated trading accounting for 32.43% of the shares traded and 40.03% of the total value traded.
GGBL closed at a record high of GHS3.51, up GHS0.05. Other gainers were CAL bank and Ghana commercial Bank (GCB). The downside saw SIC Insurance slip to GHS0.30 per share.

Ecobank Transnational Incorporated, ETI pulls down the Ghana Stock Exchange

In the first day of trading this week, ETI, one of the most capitalized stocks on the stock market did not spare any major index but pulled them down. The major indices recorded negative return today, following a decline in ETI stock price. The GSE-Composite Index shed 7.05 points to close trading at 1,023.45. The financial stock index lost by -1.14%, to close at a year-low of 857.79 points.
The year-to-date return on financial stocks fell below the zero mark, at -0.61%, its lowest since the start of the year.
The Trade volume in the market declined by 53.91% compared to the previous session, as 1.16million shares were exchanged for GHS0.45 million, 45.84% lower than previous session. CAL Bank led the market with 86.59% and 70.51% of the trade volume and trade value respectively.
ETI recorded the only change, down by a pesewa to close at GHS0.10 but still had the potentials to pull down the major indexes.

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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 for Friday, 11.05.12

Friday GSE Market Update:


Let’s look at what happened in the market today. The market closed on a bad note recording losses in four equities. The GSE-Composite Index closed the week at 1,050.34 points from 1,053.65 points. 

GOIL dominated trading for the third time in five successive sessions, the sixth in ten sessions, with 67.79% of the 0.4million shares traded and 58.86% of the GHS0.20million realized.
The corresponding year-to-date change for the exchange is 8.39%. The GSE financial stock benchmark fell 0.99 points to close trading for the week at 908.34 points.
Trade volume and value increased by 51.75% and 93.65% respectively, when compared with the previous session as reported by CAL Brokers.

Aluworks Ltd (ALW), Guinness Ghana Brewery Ltd (GGBL) and Ghana Oil Company Ltd (GOIL) gained a pesewa each to close at GHS0.07, GHS1.76 and GHS0.41 respectively. 
Meanwhile losses were recorded in four equities, PZ Cussons Ghana Ltd (PZC), Tullow Oil (TLW), Total Petroleum (TOTAL) and HFC Bank (HFC).

Analysts predict similar trend in stock prices for next week.
CAL Brokers still recommends Benso Oil Palm Plantation (BOPP) and Enterprise Group Ltd (EGL) for the fourth successive week.

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)

Bank of Ghana vs. Onward Investment Limited, Power vs. Fraud?

 With a vision ‘to achieve a comparative advantage among leading investment companies…’ and a mission ‘to become an outstanding provider of legitimate investment services…’ Onward Investment Limited, an indigenous Ghanaian company with registration number CA-75,073 is experiencing the sanction of Bank of Ghana (BOG) as they operate without a license in the financial market.

BOG is making a relentless effort to protect ordinary investors in the system hence would stop any organization that flouts its regulations.
Onward Investment Limited has an aim to contribute to the economy by developing the Forex market through the offering of Forex training services and online forex trading for individuals in the country and even foreigners. But it’s very unfortunate on their part that the BOG had to put a hold on their operations and warn the public about them, on the basis of not having a license to receive deposits from the public. What is the point in trying to achieve those great visions without passing through the right processes?
How many of these unlicensed financial service providers are in the system? What is the Securities and Exchange Commission doing to protect investors? Why do companies refuse to get a license if that could boost their businesses? Are the licensing processes too rigid or demanding? These are questions the average investor is asking.  
On the part of Onward Investment ltd.; who are the owners? , what is their expertise? , what are their records and what are the clear benefits for the investment community. If potential partners and investors find it difficult to answer these questions then there is something wrong.
The only ‘known’ Board of Directors of this company includes; Lawrence Mensah, Mohammed B. Saleh , Kwesi T. Ababio and Simon Y. Nyarko.
We hope to know more about this company and the progress of their restriction by the Bank of Ghana.