In an opposite direction to the CI, the Financial Stock Index made some 1.80% gain to touch a year-to-date loss of 0.88% by close of week.

Low price levels caused market capitalization to slip  slightly to GH¢59.97B representing a dip of 0.43%.

By close of week, shares of 16 companies were on the table of the exchange which resulted in 4 gainers and 6 losers.

After weeks of decline, GCB gained 8.26% to close at GH¢3.80: thus joining the league of gainers. On the other side of trade, SIC led the losers for the week with a dip of 11.11% to close at  GH¢0.16 by close of the trading week. 

Generally, prices of stocks did not move as expected and this was evident by a 68% decline in value though liquidity surged 150% compared to a million shares a week ago. The rise is liquidity was as a result of a block trade of 4 million shares of MTNGH while the stock (MTNGH) was the toast of investors as it traded a whopping 95% of total market volume for the week.

OUTLOOK

In the coming week, we expect positive reaction from investors on the shares of SOGEGH due to the fact that company announced that it will be recommending to shareholders the payment of    dividend of  GH¢0.040 per share for the 2018 financial year.  Profit after tax for CAL Bank saw a 12% rise from the previous year; Assets grew by 23% after meeting the BoG minimum     requirement of GH¢400M which will put the company in a good position for business to generate revenue. We anticipate a rise in price in the weeks ahead. 

In the news, SOGEGH announced the 39^th AGM to be held at the Alisa Hotel, Asante Hall, Accra-Ghana on Thursday, March 28, 2019 at 11 am.

On the fixed Income front, Quantum Terminals PLC (QTPLC) announced that the transfer of GH¢5M for the payment of interest payable to holders of the first Tranche of the 10-year guaranteed and secured Note. Investors may contact SIC Brokerage Ltd. for Fixed Income (T-Bill and Bonds) trading.