Stock Market Highlights
The benchmark index appreciated by 0.68% on the back gains in SOGEGH (+3.13%), MTNGH (+1.54%) and GOIL (+0.67%) to close at 1,969.02 with a 1.41% year-to-date return while market capitalization increased by 0.25% to settle at GH¢54.69 billion.
The financial sector advanced, up 0.14% to close at 1,789.66 with a 0.39% year-to-date return due to gains in SOGEGH.
Activity Levels Declined
A total of 20,387,216 shares valued at GH¢13,430,254 changed hands this week compared to 70,205,313 shares valued at GH¢46,030,382 last week.
MTN Ghana dominated trading activity, accounting for 98.62% of total value traded.
We expect prices to pick up next week as investors take advantage of bargain stocks.
Unilever Ghana Plc (UNIL)
Unilever Overseas Holdings Limited has acquired 7.94% of the issued shares in UNIL on 11th December 2020. The Free of Payment transaction was executed in Ghana and involved the purchase of 4,962,500 ordinary shares in UNIL. This acquisition takes Unilever’s current shareholding in UNIL to 74.50%.
Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd.
Fixed Income Market Highlights
Treasuries were oversubscribed by 8.76% at the last auction. A total of GH¢951.28 million was raised in 91 day bills and GH¢122.19 million in 182 day bills compared to GH¢510.10 million in 91 day bills, GH¢112.34 million in 182 day bills and GH¢116.74 million in 364 day bills in the previous week.
The 91 day bill narrowed by 1 bps to 14.09% last week while the 182 day bill averaged 14.14% from 14.15% in the previous week.
The target for the next auction is GH¢987 million in 91 and 182 day bills.
Securities with medium term maturities accounted for 89% of trades while securities with short term maturities accounted for 7% of trades.
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