Upward price movement in five stocks failed to hold off losses in two stocks as the stock market’s 14-day winning streak was halted. The GSE Composite Index was down 30.85 points to 1,794.74 from a record high of 1,825.59. The year-to-date return on the bourse fell to 6.26%. The GSE-Financial Stock Index slipped 40.79 points to close at 1,684.33.
Trade volume and value increased by 24.37% and 23.77%, compared with the previous session. The volume traded was 0.14million, and the corresponding value, GHS0.14 million. UTB recorded the highest volume of trade, with 42.10% of the today’s volume whiles TOTAL trades accounted for 38.34% of the total value traded.
There were five gainers, BOPP, GCB, SOGEGH, TOTAL and UNIL, and two losers, GOIL and SCB. – CBL
In all my investment coaching I tell my clients who want to venture into stocks trading or investment, to do one thing and that’s what you should do before buying any stock in 2017.
And that is; READ MORE ABOUT EVERY COMPANY YOU DESIRE TO OWN.
Knowing more about the companies you buy or sell always gives you some upper hand and courage.
So get to work. And this is how;
On the Ghana Stock Exchange for instance there are about 35 listed companies. In 2017, target to read the Annual Reports, related news and learn more about what each of these 35 companies do.
You can dedicate one week to study about one company and before you know it, you will be more abreast with what’s happening in the Market and then you can make informed decisions.
Most of the information you will need can be found here (www.annualreportsghana.com)
Fast readers can take two companies a week and read on.
Do not be scared of the figures and do not worry about interpreting the financial statements. The goal here is to know what these companies do to make profit, nature of their business, what industry they operate in, who is on their boards or management, who are the top 10 or top 20 shareholders, and any other relevant information you will get in their annual reports.
Doing this will not only get you informed but also build up some zeal or interest in you towards investing on the stock market.
You can apply this principle to other Investments you intend to hold, being it real estate, mutual funds, fixed income securities etc.
Simple task that always pays. Enjoy reading.
Bottom line:Volatility increases over time – Volatility does not “cancel out” over time. Whiles investing in equity gives you a large chance of having a portfolio with extremely large value, it also increases the probability of ending with a really low value.
The GSE-Composite Index recorded its fourth win in four trading days, following positive returns on FML. The index closed trading 3.63 points higher at 1,771.47 points. The year-to-date return is -11.20%.
A 0.07% dip in Standard Chartered Bank (SCB) forced the GSE financial stock index down 0.29 points, closing at 1,656.27 points from 1,656.56 points.
A total of 0.04 million share exchanged with a corresponding trade value of GHS0.01 million. The turnover and trade value was 66.53% and 82.30% less than the previous session’s volume and value respectively. CAL chalked up 39.64% of the traded volume whereas FML dominated in terms of value traded, accounting for 55.05% of the trade value.
FML gain more ground, climbing to a year-high of GHS8.00 from GHS7.82.
Results from the Stocks polls on my blog for last month revealed that, 34.48% of some readers on this blog think Fan Milk ltd is the best stock to buy on Ghana Stock Exchange among the options presented to them ( Ghana Commercial Bank -GCB, Fan Milk Ltd -FML, HFC Bank ltd -HFC & Ghana Oil Company -GOIL). HFC Bank ranked second among these stocks according to the polls.
To find out more about FML and what other investors think, read my post on “The Fan Milk (FML) Debate: Is FML over-valued on GSE? #FMLdebate
|Results from Stocks Polls
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Where should a 60-year old man in Ghana invest? Capital market or Money market?