The year-to-date return on financial stocks outpaced the return on the market, with CAL, GCB, EGL and SIC providing the needed boost. The GSE-Financial Stock Index closed at 1,675.28 with a year-to-date change of 61.11%..
The stock market gained more ground, recording a second straight win, following positive returns on four stocks. The GSE-Composite Index rose 9.41 points to close at 1,897.66.
Upward price movement on GCB and SCB drove the financial stock index 12.49 points higher, to close at 1,633.48.
Total volume of shares traded was 0.79 million, 20.74% less than the previous session. The value traded however, increased by 88.08% from GHS1.06 million on Wednesday, to GHS1.99 million. SIC trades represented 64.91% of the total volume traded, while GCB led in terms of value for the second straight session with 46.09%.
BOPP and GCB gained 2 pesewas each to close at GHS3.21 and GHS4.80 respectively. Other gainers were SCB and TLW.
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.
Following the approval by shareholders of Standard Chartered Bank Ghana Limited (SCB) at its Annual General Meeting (AGM) held at the National Theatre on April 25, 2012, the Company has announced a Bonus Issue of 96,256,070 ordinary shares of no par value (the Issue) on the Ghana Stock Exchange.
The Issue will be in a ratio of five (5) new shares for every one (1) existing share held.
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.