Weekly capital market recap week ending 20.08.2021 – BusinessGhana

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INVESTMENT TERM OF THE WEEK

Index: This is a tool used to statistically measure the progress of group of stocks that share characteristics. This can include a group of stocks, a group of bonds or a group of other assets.

EQUITY MARKET HIGHLIGHTS: The Ghana Stock Market thrives; returns 41.89% (YtD)
The Ghana Stock Market at the close of the week chalked 10.67 points to close the week with a YTD return of 41.89%. This is largely due to the performance of Unilever Ghana PLC. (UNIL) during the week as it gained 60.27% over the week and an impressive 134% in a month.

Due to this, the benchmark GSE Composite Index (GSE-CI) closed the week at 2,754.92. The GSE Financial Stock Index (GSE-FSI) also made a marginal gain of 0.30 points to close the week at 1,909.91 translating into a Year-to-Date (YTD) return of 7.13%.

Volume traded was 7.26 million shares valued at GH¢10.42 million. Nineteen (19) equities changed hands with Scancom PLC. (MTNGH) dominating trading activity, accounting for 76.76% of total value traded as Market Capitalization improved to close the week at GH¢62.78 billion representing a growth of 15.47% for the year.

EQUITY UNDER REVIEW: SCANCOM PLC. (MTNGH)
Share Price GH¢1.26
Price Change (YtD) 96.88%
Market Cap. (GH¢) 15,363.09
Dividend Yield 6.40%
Earnings Per Share GH¢0.1413
Avg. Daily Trade Volumes 1,883,992
Value Traded (YtD) GH¢260,662,067.00

MTNGH released its Half Year 2021 financial results. The company reported a growth of 24.9% in Total Revenue to GH¢3.6 Billion as Profit Before Tax improved to GH¢1.3 Billion representing a 35.5% growth from previous year. The company also reported an increase in active data subscribers by 1.8% to 11.4 million but a decrease in active Mobile Money users by 1.9% to 10.5 million.

GSE EQUITY MARKET PERFORMANCE

Indicator Current Week Previous Week Change
GSE-Composite Index 2,754.92 2,744.25 10.67 pts
YTD (GSE-CI) 41.89% 41.34% 1.33%
GSE-Finance Stock Index 1,909.91 1,909.61 0.30 pts
YTD (GSE-FSI) 7.13% 7.12% 0.14%
Market Cap. (GH¢ MN) 62,787.14 62,675.43 111.71
Volume Traded 7,264,947 2,483,897 192.48%
Value Traded (GH¢) 10,424,148.79 4,099,877.22 154.26%

TOP TRADED EQUITIES
Ticker Volume Value (GH¢)
MTN 6,351,117.00 8,001,752.42
EGL 615,893.00 1,207,150.28
CAL 106,109.00 74,276.30
UNIL 82,900.00 353,995.30
SOGEGH 46,611.00 44,280.45

76.8% of value traded

GAINERS
Ticker Close Price (GH¢) Open Price (GH¢) Change Y-t-D Change
UNIL 4.68 2.92 60.27% -43.55%
EGL 1.96 1.95 0.51% 40.00%

SUMMARY OF JULY 2021 EQUITY MARKET ACTIVITIES
EQUITIES
Indicator Jan.-Jul. 2021 Jan.-Jul. 2020 % Change
GSE-CI YtD CHANGE 39.95% -16.81%
VOLUME 349.5 M 332.6 M 5.08
VALUE (GH¢) 341.22 M 235.38 M 44.97
GSE-CI 2,717.30 1,877.64 44.70
MKT. CAP. (GH¢M) 62,248.75 52,722.06 18.07
ADVANCERS ETI, GGBL, BOPP, TOTAL, SOGEGH, FML, MTNGH
DECLINERS GCB, CPC, UNIL
Source: Ghana Stock Exchange

SUMMARY OF JULY 2021 GFIM ACTIVITIES
GHANA FIXED INCOME MARKET
YEAR Jan.-Jul. 2021 Jan.-Jul. 2020 Change
VOLUME 127,069,023,662 59,540,472,289 113.42%
VALUE (GH¢) 132,201,660,679.01 60,738,827,520.89 117.66%
Source: Ghana Stock Exchange

INDEX YTD PERFORMANCE

TREASURY RATES YIELD (16th Aug. – 20th Aug. 2021)

FIXED INCOME MARKET HIGHLIGHTS
At last week’s auction, all offers tendered was accepted as a total of GH¢533.86 million was raised in 91-Day bills and GH¢108.77 million in 182-Day bills compared to GH¢985.74 million in 91-Day bills, GH¢172.12 million in 182-Day bills and GH¢158.69 million in 364-Day bills at the previous week’s auction.
91-Day bill and 182-Day bill yields fell to 12.42% and 13.21% respectively.
The target for the next auction is GH¢1,643.00 million in 91 and 182 Day bills.

KEY ECONOMIC INDICATORS
Indicator
Monetary Policy Rate July 2021 13.50%
Real GDP Growth Q1 2021 3.10%
Inflation July 2021 9.0%
Reference rate August 2021 13.51%
Source: GSS, BOG, GBA

GOG Treasuries 16th – 20th Aug. 2021 9th – 13th Aug. 2021 Change (%)
91-Day T-Bill 12.42% 12.47% -0.027%
182-Day T-Bill 13.21% 13.26% -0.064%
364-Day T-Bill 16.11% 16.11% -0.110%
2-Year Bond 17.25% 17.25% 0.00%
BOG Offer (GH¢ MN) 596.00 1,161.00
Dealers Tender (GH¢ MN) 642.63 1,316.55
Amount Raised (GH¢ MN) 642.63 1,316.55
Source: Bank of Ghana

CURRENCY MARKET
Interbank Average Rates
Currency Closing Week Previous Week Y-t-D Change
(GH¢) (GH¢) %
DOLLAR 5.8336 5.8221 -1.26%
POUND 7.9439 8.0674 -0.88%
EURO 6.8127 6.8685 3.69%
YEN 0.0532 0.0531 5.17%
YUAN 0.8968 0.8986 -1.60%
CFA FRANC 96.2852 95.5023 -3.56%
Source: Bank of Ghana

ANALYSTS
Godwin Kojo Odoom: Senior Research Analyst
Edna Awurama Fosua: Analyst
Nelson Cudjoe Kuagbedzi: Analyst

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