The Producer Price Inflation for the fourth week of August (22-26) rose to 10.3 per cent year – on – year while investors responded by bidding down equities. Total volume traded was 1.3 million shares which were valued at GH₡ 7.9 million.
Fan Milk emerges as the most traded equity in value terms thereby retaining its position as the most traded equity, accounting for 75.7 per cent of all value traded during the week. Consequently the benchmark Ghana Stock Exchange (GSE) – Composite Index shed by 0.2 per cent to close at 1,808.6 points.
This represents a year to date loss of 9.3 per cent, stock market analysis paper made available to the Ghana News Agency in Accra on Monday said. Nordea Capital is an investment bank licensed by the Securities and Exchange Commission, which offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.
According to the analysis Total Ghana Limited lost 3.3 per cent to close at GH₡ 2.90 per share; described as the lowest price since the year began, representing a capital loss of 43 per cent.
Golden Star Resource shed 2.0 per cent to close at GH₡ 1.95 per share. It company recently announced the injection of $ 90 million to revamp its activities at the Wassa and Prestea mines in the Western Region; and also settled its indebtedness of $ 25 million to Ecobank Ghana Ltd.
Benso Oil Palm Plantation dipped by 1.8 per cent to close at GH₡ 2.70 per share. GCB Bank and CAL Bank fell by 1.5 per cent and 1.1 per cent each to close at GH₡ 4.01and GH₡ 0.88 per share apiece and Tullow Ghana Limited slipped by 0.8 per cent to close at GH₡ 27.65 per share.
The UT Bank led the gainers for the week under review as the stock bounced back from losses in two consecutive weeks to appreciate by 16.7 per cent to close at GH₡ 0.07 per share.
The SIC Insurance rose by 13.3 per cent to close at GH₡ 0.17 per share, whiles HFC Bank gained 1.4 per cent to close at GH₡ 0.72 per share and Fan Milk added 0.8 per cent to the value of their shares to close at GH₡ 9.50 per share.
Enterprise Group Ltd rounded up the gainers as it edged by 0.4 per cent to close at GH₡ 2.39 per share.