Shares valued at GH¢67.73m traded on GSE last week
Investor demand for Treasury bills experienced an uptick compared to the previous week’s auction.
The government raised GH¢3 billion, surpassing the target of GH¢2.66 billion, resulting in an oversubscription rate of 12.79%. The government accepted all bids for the 91-day and 364-day treasury bills and accepted 99.91% of bids for the 182-day bill during last Friday’s auction.
The yield on all the bills remained stable from the prior week.
The yield on the 91 -day bill remained at 24.87%, while the yields on the 182-day and 364-day bills also held steady, clearing at 26.80% and 27.79%, respectively.
Secondary market
Trading volumes on the GFIM decreased by 13.6% to GH¢2.13 billion in the just ended week.
Treasury bills dominated trading activity, accounting for 72.56% of the total volume traded.
Currency update
The Ghana Cedi weakened in the week under review against the Dollar, Pound Sterling and the Euro.
The Cedi depreciated by 0.96%, 0.94% and 1.15% against the Dollar, Pound Sterling and the Euro respectively.
The Cedi closed the week trading at a midrate of GH¢14.5860, to one Dollar, GH¢18.4375 to the Pound Sterling and GH¢15.6270 for the Euro.
Indicative rates from the open market showed the Cedi closing at a midrate of GH¢14.0583 to the Dollar, GH¢19.0222 to one Pound Sterling and GH¢16.0900 to the Euro.
Ghana Stock Exchange
The Ghanaian stock market saw a bullish trend in its benchmark index during the review period.
The GSE Composite Index advanced by 1.08%, propelled by gains in UNIL, FML, GGBL, ALLGH, SCB, MTNGH, and BOPP, closing the week at 3,829.61 points with a year-todate return of 22.34%.
Trading activity surged, with trading volumes experiencing a substantial increase.
A total of 37,763,660 shares were traded, amounting to a transaction value of GH¢67.73 million, marking a 4317.26% increase in trading volumes compared to the previous week.
We anticipate the financial stocks and the ICT sector to drive the performance of the index in the upcoming week.
