Stock Market Highlights
•MTN Ghana (+4.48%) pushed the benchmark index up by 0.34% to 2,211.89 with a -2.01% year-to-date return while market capitalization declined by 0.18% to settle at GH¢56.53 billion.
•The financial index however shed 2.47% due to losses in five financial stocks to close at 1,964.56 with a -2.73% year-to-date return.
•MTN Ghana (+4.48%) was the sole gainer this week.
Trading Activity Declined
•A total of 3,261,031 shares valued at GH¢1,816,989 changed hands this week compared to 18,853,538 shares valued at GH¢13,002,466 .
•MTN Ghana dominated trades for the fifth straight week, accounting for 43.92% of total value traded.
•We expect a pick up in trading activity as companies release audited FY19 results.
Dannex Ayrton Starwin PLC (DASPHARMA)
DASPHARMA is holding an extraordinary general meeting at the Osu Ebenezer Presbyterian Church Hall, Osu on Friday 20th March, 2020 at 10:00 am to consider and pass a resolution authorizing the company to secure financing.
Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd (0302767051).
Fixed Income Market Highlights
•Government raised 76.18% (GH¢609.40 million) of its weekly auction target of GH¢800 MILLION today. Investors bought GH¢388.93 million of 91 day bills, GH¢91.32 million of 182 day bills and GH¢129.15 million of 364 day bills compared to GH¢675.53 million of 91 day bills and GH¢68.10 million of 182 day bills last week.
•The yield on the 91 day bill declined by 14.73% while the yield on the 182 day bill remained at 15.17%. The 364 day bill traded at a yield of 17.71%.
•The target for the next auction is GH¢1,037 million in 91, 182 and 364 day bills.
•Activity jumped as 3,220 trades valued at GH¢1,415.53 million changed hands compared with 2,011 trades valued at GH¢885.30 million last week. Activity was concentrated in the short term (less than 2 year maturity), accounting for 63% of trades while securities with medium term maturities (2 – 10 years) accounting for 35% of trades.