Stock Market Highlights
The benchmark index appreciated by 0.74% this week due to gains in two counters in the telecom and banking sectors to close at 1,820.22 with a -19.36% year-to-date return. Market capitalization increased by 0.26% to settle at GH¢53.10 billion.
Ecobank Ghana advanced by 1.00%, pushing the GSE Financial Index up by 0.17% to close at 1,625.60 with a -19.51% year-to-date return.
Activity Levels Increased
A total of 37,587,374 shares valued at GH¢23,213,076 changed hands this week compared to 13,174,852 shares valued at GH¢8,802,796 last week.
MTN Ghana dominated trading activity, accounting for 96.58% of total value traded.
We expect a slowdown in trading activity next week due to the coronavirus outbreak.
AngloGold Ashanti Limited (AGA)
Ms Lucy Mokoka has been appointed by the Board as Group Company Secretary with effect from 11 January 2021. Ms Mokoka is an admitted attorney and holds BJuris and LLB degrees. She has extensive company secretarial and corporate law experience, having worked for multinational companies such as Gold Fields and MTN.
Fixed Income Market Highlights
Treasury securities were oversubscribed by 16.54% at today’s auction. A total of GH¢1,083.44 million was raised in 91 day bills and GH¢95.96 million in 182 day bills compared to GH¢622.89 million in 91 day bills, GH¢96.22 million in 182 day bills and GH¢192.60 million in 364 day bills last week.
BoG also raised GH¢371.72 million in 2 year notes today at a yield of 18.50%.
The 91 day bill remained at a yield of 14.07% while the average yield of the 182 day bill narrowed by 1 bps to 14.13%.
The target for the next auction is GH¢925 million in 91 and 182 day bills.
Securities with medium term maturities accounted for 65% of trades while securities with short term maturities accounted for 19% of trades this week.