Stock Symbol (Ticker): A stock symbol is a unique series of letters assigned to a security for trading purposes. Symbols are just a shorthand way of describing a company's stock. When a company issues securities to the public marketplace, it selects an available symbol for its shares, often related to the company name. Investors and traders use the symbol to place trade orders.

ETFs: GREAT DEAL FOR INVESTORS

An exchange-traded fund (ETF) is a type of security that tracks an index, sector, commodity, or other assets, but which can be purchased or sold on a stock exchange the same as a regular stock.

New Gold ETF (GLD), an exchange-traded fund sponsored by Absa Capital, offers the opportunity to invest in gold bullion.

The company issues listed instruments (structured as debentures) backed by physical gold. Each debenture is approximately equivalent to 1/100 ounces of gold bullion, which is held with a secure depository on behalf of investors. The debentures are listed on the Ghana Stock Exchange (GSE) and six other African stock exchanges.

The current share price of New Gold ETF (GLD) is GH¢265.80.

EQUITY MARKET HIGHLIGHTS: The Ghana Stock Market closes higher by 13.31 points over the week to close at 2,462.80; returns -11.71% YTD.

At the close in Accra, the Ghana Stock Exchange Composite Index (GSE-CI) rose by 13.31 points to close at 2,462.80 points translating into a YTD return of -11.71%, while the GSE Financial Stock Index (GSE-FSI) climbed 2.78 points to close at 2,074.41 points translating into a YTD return of -3.60%.

Twenty-three (23) equities traded over the week, ending with three (3) gainers. The best performers of this week’s session on the GSE were NewGold (GLD), Trust Bank Gambia Ltd. (TBL) and Scancom PLC. (MTNGH). They gained GH¢4.40, GH¢0.08 and GH¢0.01 to close trading at GH¢265.80, GH¢0.68 and GH¢0.88 respectively. Market Capitalization close the trading week at GH¢64.84 billion.

A total of 1,665,534 shares valued at GH¢30,434,719.53 were traded during the week. This week’s data shows a decline of 224.80% and 248.99% in volume traded and trade turnover respectively. MTNGH emerged as the most traded stock during the week, accounting for 87.55% of overall trade volume, whilst GLD accounted for 95.29% of the total value traded.

GSE EQUITY MARKET PERFORMANCE

KEY ECONOMIC INDICATORS

    Source: GSS, BOG, GBA

SBL RECOMMENDED PICKS

EQUITY UNDER REVIEW:

NEWGOLD (GLD)

 Source: Ghana Stock Exchange, SBL Researchsss

     Source: Bloomberg

    Source: Bank of Ghana

    Source: Bloomberg, Bullion by Post, ICCO

 

JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO

• Typically, stocks outperform all other investment options over a ten-year period making them a must for long term portfolio.
• They are excellent vehicles for retirement.
• Except for a few short periods, stocks have consistently outpaced the rate of inflation.

ANALYSTS

Godwin Kojo Odoom: Senior Research Analyst

Obed Owusu Sackey: Analyst

Wisdom Asigbetse: Analyst

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