Stock Market Highlights
Gains in CalBank Limited (+2.94%), MTN Ghana (+1.69%) and Societe Generale Ghana (+1.59%) pushed the benchmark index up by 0.74% to close at 1,841.38 with a -18.42% year-to-date return. Market capitalization increased by 0.27% to settle at GH¢53.17 billion.
The GSE Financial Index followed the market’s trend, up 0.20% due to gains in CalBank Limited and Societe Generale Ghana to close at 1,669.29 with a 17.35% year-to-date return.
Activity Levels Increased
A total of 1,705,402 shares valued at GH¢2,967,637 changed hands this week compared to 273,321 shares valued at GH¢347,668 last week.
Enterprise Group Limited accounted for 54.42% of total value traded.
We expect a slowdown in trading activity next week due to the coronavirus outbreak.
Mechanical Lloyd PLC (MLC)
MLC has announced that its twenty-eighth annual general meeting will be held at the Accra International Conference Centre, Accra on Thursday, October 15, 2020 at 11:00 AM.
Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd.
Fixed Income Market Highlights
Investors bought 93.62% of treasury securities offered last week. GoG accepted GH¢860.40 million, lower than the target of GH¢919 million. A total of GH¢755.77 million was raised in 91 day bills and GH¢104.63 million in 182 day bills compared to GH¢900.65 million in 91 day bills, GH¢70.93 million in 182 day bills and GH¢54.99 million in 364 day bills last week.
The yield of the 91 day bill remained at 14.02% while the 182 day bill was auctioned at an average yield of 14.09%, 2bps lower than the 14.11% yield recorded in the previous week.
The target for the next auction is GH¢1,004 million in 91, 182 and 364 day bills.
Activity was concentrated in the medium term, accounting for 77% of trades while securities with short term maturities accounted for 16% of trades.