Stock Market Highlights
The GSE-CI advanced by 5.41% on the back of gains in four counters in the telecom, and banking sectors to close at a new year high of 2,166.29 with a 11.57% year-to-date return.
Market capitalization increased by 2.09% to settle at GH¢56.79 billion.
CAL (+5.19%), GCB (+2.27%) and SOGEGH (+1.39%) advanced, pushing the GSE-FI up by 0.55% to close at 1,874.40 with a 5.14% year-to-date return.
MTN Ghana Dominated Trading Activity
A total of 16,027,304 shares valued at GH¢13,587,296 changed hands this week compared to 19,291,203 shares valued at GH¢13,551,131 last week.
MTN Ghana dominated trading activity, accounting for 74.79% of total value traded.
We expect prices to pick up next week as investors take advantage of bargain stocks.
Benso Oil Palm Plantation (BOPP)
Ms. Esine Okudzeto has been appointed as an Independent Non- Executive Director of BOPP with effect from November 17, 2020. Esine is the Deputy Managing Partner at Sam Okudzeko & Associates and she heads the firm’s Corporate/Commercial law group.
Investors looking to purchase/sell stocks and treasury bills can do so through SIC Brokerage Ltd.
Fixed Income Market Highlights
Treasuries were oversubscribed by 9.40% at today’s auction. A total of GH¢1,103.15 million was raised in 91 day bills, GH¢121.68 million in 182 day bills and GH¢102.25 million in 364 day bills compared to GH¢962.95 million in 91 day bills and GH¢113.82 million in 182 day bills last week.
The 91 day bill narrowed by 58 bps to 13.23% while the 182 day bill averaged 13.96% from 14.01% last week. The 364 day bill also declined by 10 bps to 16.86%.
The target for the next auction is GH¢773 million in 91 and 182 day bills.
Securities with medium term maturities accounted for 60% of trades while securities with short maturities accounted for 37% of trades.