The Ghana Stock Exchange delivered positive returns in the week ending 21st July, as investor sentiment boosted by improved corporate earnings and a stable economic environment. The GSE-CI rose 4.43% and the SAS Index ended 4.59% higher. The current YTD on the GSE-CI and SASI is 31.30% and 31.85% respectively.
Market sentiment last week was high and was further supported this week by a better-than-expected result in CAL earnings.
Among the SAS indices, the SAS-MI advanced the most, gaining 10.14% w-o-w. The SAS-FI also saw gains, moving by 153.11bps to close the week 2.88% higher. The biggest surprises were in large cap stocks – SCB (+2.02%) and FML (+2.28%).
Volume traded for the week was 2,205,415 shares valued at GHS 8,152,920.99 from block trades in ETI and CAL (+0.02%).
Investors will be keeping a close eye on the new policy rate after the Monetary Policy Committee meeting on Monday. The central bank is expected to cut policy rate by some 100bps lower because of low inflation figures in June.
info@businessghana.com
