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Weekly Stock Market report

BY: Graphic Business

Benso Oil Palm Plantation (GH¢7.60, +9.99% w/w) and Trust Bank Gambia (GH¢0.76, +11.76% w/w) were the gainers on the bourse this week, while Unilever Ghana (GH¢4.78, -9.98% w/w) and SIC Insurance (GH¢0.31, -0.01% w/w) declined.

Price movements

The price movements resulted in the GSE CI advancing by 0.56% w/w to 2,463.27 points (-11.69% YTD), while the DSI 20 Index increased by 0.48% w/w to 106.94 points (-13.29% YTD).

Trades in MTN Ghana dominated market activity this week. Total weekly turnover amounted to GH¢2.3mn (-73.62% w/w) from trades in 2,485,459 shares (384.70% w/w), with MTNGH accounting for 86.07 per cent of aggregate turnover.

Outlook

Based on the bids and outstanding offers, we forecast Benso Oil Palm Plantation to make more gains next week, while TotalEnergies and Goil PLC are expected to decline due to selling pressures.