WEEKLY CAPITAL MARKET SUMMARY Week ending 01.10.2021.


DURATION OF INVESTMENT OF THE WEEK

Price / Earnings Ratio (P / E): The Price / Earnings (P / E) ratio is one of the most used tools by investors and analysts to determine the relative valuation of a stock. The P / E ratio is used to determine whether a stock is overvalued or undervalued. A company’s P / E can also be compared to other stocks in the same industry or to the entire market.

HIGHLIGHTS OF THE EQUITY MARKET: The GSE Composite Index has increased by 180.29 points for a return of 47.21% since the start of the year.
At the end of the week under review, the benchmark GSE Composite (GSE-CI) rallied by gaining 180.29 points to close at 2,858.17, resulting in a cumulative return of 47.21% . The GSE Financial Stock Index (GSE-FSI) also appreciated 49.20 points during the week to close at 2,055.20, translating into an annual return of 15.28%, making it the third consecutive weekly gain. Seven stocks posted gains during the week, increasing market cap by GH ¢ 1.89 billion to close trading at GH ¢ 64.20, while FanMilk posted a gain of 28.83% on a week for an impressive return of 226.85% year-to-date.
A total of 14.12 million shares worth GH ¢ 18.32 million were traded, representing a significant increase of 178.69% and 138.92% respectively from the previous week. Nineteen (19) shares traded during the week, with MTNGH representing 57.15% of the total traded value.

STUDY EQUITY: FAN MILK PLC. (FML)
GH share price ¢ 3.53
Price Change (YtD) 226.85%
Market capitalization. (GH ¢) GH ¢ 410.21 million
Dividend yield 0.00%
Earnings per GH share ¢ 0.1188
Avg. Daily trading volumes 4,838
Traded Value (YtD) GH ¢ 2,331,516.00

SUMMARY OF AOT. GFIM 2021 ACTIVITIES
FIXED INCOME MARKET IN GHANA
YEAR Jan-Aug. 2021 Jan-Aug. Change 2020
VOLUME 140 964 497 583 65 251 333 273 116.03%
VALUE (GH ¢) 146 623 859 868.39 66 558 222 713.51 120.29%
Source: Ghana Stock Exchange

PERFORMANCE OF THE GSE EQUITY MARKET

Indicator Current week Previous week Change
GSE composite index 2,858.17 2,677.88 180.29 pt
YTD (GSE-CI) 47.21% 37.92% 24.50%
GSE-Financial stock market index 2,055.20 2,006.00 49.20 pt
YTD (GSE-FSI) 15.28% 12.52% 22.04%
Market capitalization. (GH ¢ MN) 64,205.11 62,314.15 1,890.96
Volume traded 14,118,056 5,065,892 178.69%
Traded value (GH ¢) 18,317,228.74 7,666,730.42 138.92%

MOST NEEDED ACTIONS
Volume value (GH ¢)
9,114,266 10,468,136.38
4,166,074 3,082,895.26
507,373 3,962,583.13
132,600 447,061.00
70 614 120 043.80

MTN – 57.1% of the traded value

GAINERS & DIMINISHERS
Ticker Price close (GH ¢) Price opening (GH ¢) Variation YtD Variation
MLF 3.53 2.74 28.83% 226.85%
MTNGH 1.24 1.12 10.71% 93.75%
SCB 20.35 18.50 10.00% 24.77%
EGL 2.30 2.10 9.52% 64.29%
RAIL 1.70 1.60 6.25% 13.33%
GLD 102.50 97.30 5.34% -6.73%
TOTAL 4.65 4.62 0.65% 64.31%
MAC 5.39 5.98 -9.87% -9.87%

SUMMARY OF AOT. 2021 EQUITY MARKET ACTIVITIES
ACTIONS
Jan-Aug indicator. 2021 Jan-Aug. 2020% change
VARIATION GSE-CI YtD 41.66% -18.19%
VOLUME 370.19 M 378.65 M -2.23
VALUE (GH ¢) 368.71 M 272.55 M 35.28
GSE-CI 2,750.37 1,846.59 48.94
MKT. CAP. (GH ¢ M) 62,904.96 52,568.06 19.66
ADVANCERS UNIL, ETI, FML, EGL, TOTAL, EGH, BOPP, CAL
SCB, MTNGH, CPC DROPS
Source: Ghana Stock Exchange

HIGHLIGHTS OF THE FIXED INCOME MARKET
In last week’s auction, a total of GH ¢ 591.76 million was collected in 91-day bills, GH 119.01 million in 182-day bills and GH ¢ 97.30 million in 364 days, compared to GHG 454.83 million in 91 day bills. , GH ¢ 696.38 million in 182-day bills and GH ¢ 916.78 million in 2-year bills in the previous week’s auction.
The 91-day bills fell 0.019% to close at 12.47% interest rate. The interest rate on the 182-day bills also fell from 0.039% to 13.18% and the interest rate on the 364-day bills improved from 0.077% to 16.21%.
The next auction target is GH ¢ 1,475.00 million in 91 and 182 day bills.

KEY ECONOMIC INDICATORS
Indicator Current Previous
Monetary policy rate September 2021 13.50% 13.50%
Real GDP growth Q2 2021 3.90% 3.10%
Inflation August 2021 9.70% 9.00%
Reference rate September 2021 13.46% 13.51%
Source: GSS, BOG, GBA

GOG treasury October 27 to 01, 2021 September 20 to 24, 2021 Change (%)
91-day Treasury bills 12.47% 12.49% -0.019%
182-day Treasury bills 13.18% 13.22% -0.039%
364-day Treasury bills 16.21% 16.14% 0.077%
2-year bond 17.50% 17.50% 0.00%
BOG offer (GH ¢ MN) 972.00 1,290.00
Dealer tender (GH ¢ MN) 809.72 2,077.99
Amount raised (GH ¢ MN) 808.07 2,067.99
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 5.8663 5.8643 -1.81%
BOOK 7.9462 8.0159 -0.91%
EURO 6.7979 6.8680 3.92%
YEN 0.0529 0.0530 5.77%
YUAN 0.9105 0.9068 -3.09%
F CFA 96.4310 95.5099 -3.77%
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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