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

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