Weekly Capital Market Recap, week ending 09-03-21


DURATION OF INVESTMENT OF THE WEEK

Capital gains: Capital gains are an economic concept defined as the profit made on the sale of a financial asset whose value has increased during the holding period.

EQUITY MARKET HIGHLIGHTS: The Ghanaian stock market is advancing; returns 41.82% (YtD)
The Ghana stock market at the end of the week gained 13.71 points to close the week with a YTD return of 41.82% thanks to the price gain achieved by six (6) stocks. Cal Bank PLC (CAL) closed the week with the highest traded value representing 42.2% of the total traded value.
As a result, the benchmark GSE Composite (GSE-CI) closed the week at 2,753.55. However, the GSE Financial Stock Index (GSE-FSI) gained 15.68 points to close the week at 1,929.78, resulting in a cumulative annual return (YTD) of 8.25%.
The volume traded was 3.39 million shares, an increase of about 2.31% from the previous week. The total traded value was GH ¢ 3.39 million, which represents a reduction of approximately 32.77% from the value of the previous weeks. Market cap rose to close the week at GH ¢ 62.94 billion, representing growth of 15.75% for the year.

STUDY EQUITY: SCANCOM PLC. (MTNGH)
GH ¢ 1.24 share price
Price Change (YtD) 93.75%
Market capitalization. (GH ¢) 15,240.19
Dividend yield 2.42%
Earnings per GH share ¢ 0.1413
Avg. Daily trading volumes 1,842,380
Traded Value (YtD) GH ¢ 264 548 267.00

MTNGH has released its 2021 half-year financial results. The company reported 24.9% growth in total revenue to 3.6 billion GH ¢ as profit before tax improved to 1.3 billion of GH ¢, an increase of 35.5% over the previous year. The company also reported an increase in the number of active data subscribers from 1.8% to 11.4 million, but a decrease in the number of active mobile money users from 1.9% to 10.5 million.

PERFORMANCE OF THE GSE EQUITY MARKET

Indicator Current week Previous week Change
GSE-Composite index 2,753.55 2,739.84 13.71 pts
YTD (GSE-CI) 41.82% 41.11% 1.73%
GSE-Finance stock market index 1,929.78 1,914.10 15.68 pts
YTD (GSE-FSI) 8.25% 7.37% 11.94%
Market capitalization. (GH ¢ MN) 62,940.06 62,629.27 310.79
Volume traded 3,428,614 3,351,046 2.31%
Traded Value (GH ¢) 3,393,946.96 5,048,548.19 -32.77%

MOST NEEDED ACTIONS

TTY volume value (GH ¢)
CAL 1,991,399 1,433,852.28
MTN 695,287 862,155.88
ETI 388 247 27 177.29
GCB 89 921 484 674.19
UNIL 73 960 423 279.24

Cal Bank 42.2% of the traded value

WINNERS
Ticker Price close (GH ¢) Price opening (GH ¢) Variation YtD Variation
MLF 1.65 1.40 17.86% 52.78%
ETI 0.07 0.06 16.67% -12.50%
UNIL 5.90 5.64 4.61% -28.83%
EGL 2.06 1.99 3.52% 47.14%
RAIL 1.57 1.55 1.29% 4.67%
EGH 7.34 7.33 0.14% 1.94%

SUMMARY OF JULY 2021 SCHOLARSHIP ACTIVITIES
ACTIONS
Indicator Jan-Jul. 2021 Jan-Jul 2020% change
VARIATION GSE-CI YtD 39.95% -16.81%
VOLUME 349.5 million 332.6 million 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
REDUCED GCB, CPC, UNIL
Source: Ghana Stock Exchange

SUMMARY OF THE ACTIVITIES OF THE CJTF JULY 2021
FIXED INCOME MARKET IN GHANA
YEAR Jan-Jul 2021 Jan-Jul Change 2020
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

HIGHLIGHTS OF THE FIXED INCOME MARKET
In last week’s auction, a total of GH 1,144.98 million was raised in 91-day notes, GH 64.66 million in 182-day notes and GH 312.88 million against GH 1,051. , GH ¢ 31 million in 91-day notes and GH ¢ 156.49 million in 182-day notes in the previous week’s auction.
The 91-day and 182-day bill yields edged down to 12.45% and 13.20% respectively.
The next auction target is GH ¢ 1,380 million in 91 and 182 day bills.

KEY ECONOMIC INDICATORS
Indicator Current Previous
Monetary policy rate July 2021 13.50% 13.50%
Real GDP growth Q1 2021 3.10% 3.30%
Inflation July 2021 9.00% 7.80%
Reference rate August 2021 13.51% 13.55%
Source: GSS, BOG, GBA

GOG cash position September 30 – 03, 2021 August 23 – 27, 2021 Change (%)
91-day Treasury bills 12.45% 12.46% -0.012%
182-day Treasury bill 13.20% 13.22% -0.029%
364-day Treasury bills 16.10% 16.11% -0.014%
2-year bond 17.25% 17.25% 0.00%
BOG offer (GH ¢ MN) 642.62 1.643.00
Dealer call for tenders (GH ¢ MN) 1,607.76 1,208.70
Amount raised (GH ¢ MN) 1,522.52 1,208.70
Source: Bank of Ghana

CURRENCY MARKET
Average Interbank Rates
Currency of the closing week of the previous week Variation of the current financial year
(GH ¢) (GH ¢)%
DOLLAR 5.8564 5.8502 -1.64%
BOOK 8.1214 8.0449 -3.04%
EURO 6.9607 6.8984 1.49%
YEN 0.0534 0.0532 4.68%
YUAN 0.9103 0.9037 -3.06%
F CFA 94.2379 95.0883 -1.47%
Source: Bank of Ghana

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

Disclaimer – SIC Brokerage and its employees make no warranties or other promises as to the results that may be obtained by using our content. No one should make an investment decision without first consulting their own investment advisor and performing their own research and due diligence. SIC Brokerage declines all responsibility in the event that Information, comments, analyzes, opinions, advice and / or recommendations prove to be inaccurate, incomplete or unreliable, or result in an investment or other losses.


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