The benchmark index gained 7.50% following gains in five counters in the banking, petroleum marketing, insurance and telecommunication sectors to close the week the at 2,602.76 with a 34.05% year-to-date return. Market capitalization increased by 3.20% to settle at GH¢61.23 billion.
Gains in seven counters in the banking, petroleum marketing, insurance and consumer goods sectors pushed the GSE-CI up by 0.20% to close at 2,421.11 with a 24.70% year-to-date return. Market capitalization increased by 0.08% to settle at GH¢59.33 billion.
The GSE-CI declined by 6.17% this week on the back of losses in CAL (-2.44%) and MTNGH (-12.28%) to close at 2,416.36 with a 24.45% year-to-date return. Market capitalization declined by 2.73% to settle at GH¢59.28 billion.
The GSE-CI declined by 4.47% this week on the back of losses in four counters in the telecom, banking, manufacturing and insurance sectors. Market capitalization declined by 2.03% to settle at GH¢60.95 billion.
Buoyed by a rally in MTNGH, the Ghanaian equity market advanced to a 31.93% year-to-date return at the end of April 2021. The surge in prices of eleven other stocks in the banking, petroleum marketing, insurance and beverage sectors has sparked interest in the equities market and led to questions of how high the benchmark index can go this year. We believe equities are still underpriced amid steep discounts to book value and attractive dividend yields.
Stocks were bullish this week. The GSE-CI advanced to a high of 2,695.76 with a 38.84% year-to-date return, led by gains in six counters in the telecom, banking and beverage sectors. Market capitalization increased by 2.31% to settle at GH¢62.21 billion.
