22ND JULY 2022

WEEKLY CAPITAL MARKET REPORT

INVESTMENT TERM OF THE WEEK GSE EQUITY MARKET PERFORMANCE

Stop-Limit Order: A stop-limit order is a conditional trade over Indicator Current Previous Change
a set time frame that combines the features of stop with those of a Week Week
limit order and is used to mitigate risk. It is related to other order GSE-Composite Index 2,440.50 2,464.13 -23.63 pts
types, including limit orders (an order to either buy or sell a specified YTD (GSE-CI) -12.51% -11.66% 7.29%
number of shares at a given price or better) and stop-on-quote
GSE-Financial Stock Index 2,115.61 2,163.03 -47.42 pts
YTD (GSE-FSI) -1.68% 0.52% -423.08%
orders (an order to either buy or sell a security after its price has
Market Cap. (GH¢ MN) 63,475.25 63,748.50 -273.25
surpassed a specified point). Volume Traded -96.53%
2,086,473 60,044,310
ETFs: GREAT DEAL FOR INVESTORS Value Traded (GH¢) 1,865,540.47 54,548,444.78 -96.58%
An exchange traded fund (ETF) is a type of security that tracks an
index, sector, commodity, or other asset, but which can be
TOP TRADED EQUITIES
purchased or sold on a stock exchange the same as a regular stock. Ticker Volume Value (GH¢)
New Gold ETF (GLD), an exchange traded fund sponsored by Absa MTNGH 1,817,192 1,508,269.36
Capital, offers the opportunity to invest in gold bullion. ALW 156,442 15,644.20
sssss SIC 22,612 21,741.32
The company issues listed instruments (structured as debentures) GCB 21,954 109,770.00 80.85%
backed by physical gold. Each debenture is approximately CAL 15,623 11,884.96
equivalent to 1/100 ounces of gold bullion, which is held with a secure
depository on behalf of investors. The debentures are listed on the KEY ECONOMIC INDICATORS
Ghana Stock Exchange (GSE) and six other African stock exchanges. Indicator Current Previous
Monetary Policy Rate May 2022 19.00% 17.00%
The current share price of New Gold ETF (GLD) is GH¢137.85. Real GDP Growth March 2022 3.3% 5.4%
Inflation June 2022 29.8% 27.6%
EQUITY MARKET HIGHLIGHTS: The Ghana Stock
Source: GSS, BOG, GBA
Market falls 23.63 points over the week to close at
2,440.50; returns -12.51% YTD. DECLINERS
Ticker Close Price Open Price Price Y-t-D
Market activity for the week was down 23.63 points to close at (GH¢) (GH¢) Change Change
2,440.50 points translating into a YTD return of -12.51%. The GSE CAL 0.75 0.80 -0.05 -13.79%
EGH 6.85 7.60 -0.75 -9.87%
Financial Stock Index (GSE-FSI) also lost 47.42 points to close at
2,115.61 points translating into a YTD return of -1.68%. Twenty-two (22)
equities traded over the week, ending with two (2) decliners. CAL
and EGH were the decliners as they lost GH¢0.05 and GH¢0.75 to
GSE-CI & GSE-FSI YTD PERFORMANCE
6.00%
close at GH¢0.75 and GH¢6.85 respectively. -1.68%
4.00%
sssssss
As a result, Market Capitalization decreased by GH¢273.25 million to 2.00%

close the trading week at GH¢63.48 billion. 0.00%

4-Jan 4-Feb 4-Mar 4-Apr 4-May 4-Jun 4-Jul
-2.00%
SS
A total of 2.09 million shares valued at GH¢1.87 million traded during -4.00%
-6.00% -12.51%
the week. Compared with the previous trading week, this week’s
S decline in volume traded and 96.58% decline in -8.00%
data shows a 96.53%
-10.00%
trade turnover. Scancom PLC. (MTNGH) recorded lion’s share of
-12.00%
trades as it recorded the most volumes and accounted for 80.85% of -14.00%
the total value traded.
GSE-CI GSE-FSI
 SBL RECOMMENDED PICKS EQUITY UNDER REVIEW:
SCANCOM PLC. (MTNGH)
Equity Price Opinion Market Outlook
Share Price GH¢0.83
MTN GHANA GH¢ 0.83 Strong 2022 Q1 Financials Higher Ask Price
Price Change (YtD) -25.23%
BOPP GH¢ 6.00 Strong 2022 Q1 Financials Low offers
Market Cap. (GH¢) GH¢10.20 billion
CAL BANK GH¢ 0.75 Strong 2022 Q1 Financials Available offers
Dividend Yield 13.86%
ECOBANK GH¢ 6.85 Strong 2022 Q1 Financials Bargain bids
Earnings Per Share GH¢0.2303
SOGEGH GH¢ 1.17 Strong 2022 Q1 Financials Low demand Avg. Daily Volumes 3,881,994
FANMILK GH¢ 3.00 Positive Sentiment Low demand Value Traded (YtD) GH¢1,059,553,986

SUMMARY OF JUNE 2022 EQUITY MARKET ACTIVITIES GSE AGAINST SELECTED AFRICAN STOCK MARKETS
Indicator June June % Change Country Current Level YTD
2022 2021
2,440.50 -12.51%
(Ghana) GSE-CI
GSE-CI YTD CHANGE -8.74% 24.70% -
(Botswana) BGSMDC 7,237.19 0.81%
GSE-CI 2,545.48 2,643.67 -3.71%
(Egypt) EGX-30 9,289.81 6.00%
GSE-FSI YTD CHANGE 1.17% 6.74% -
(Kenya) NSE ASI 136.57 1.88%
GSE-FSI 2,176.97 1,871.41 16.33%
(Nigeria) NGSE ASI 51,979.92 -0.45%
VOLUME 48.23 M 37.47 M 28.73%
(South Africa) JSE ASI 68,069.58 4.58%
VALUE (GH¢) 45.26 M 50.33 M -10.08%
(WAEMU) BRVM 207.10 -0.09%
MKT. CAP. (GH¢M) 64,841.21 61,331.40 5.72%
Source: Bloomberg
ADVANCERS & ACCESS, TBL, SIC | ETI, GOIL,
DECLINERS SOGEGH, GCB, CAL, GLD
Source: Ghana Stock Exchange, SBL Research

COMMODITIES MARKET
CURRENCY MARKET
Commodity Closing Previous YTD
Currency Closing Previous YTD
Week Week (%)
Week Week Change
(GH¢) (GH¢) %
BRENT CRUDE OIL 104.04 101.06 31.50%
DOLLAR 7.4745 7.3845 -19.65%
(US$/bbl.)
POUND 8.9915 8.7577 -9.61%
EURO 7.6409 7.4499 -10.64% GOLD 1,726.09 1,704.34 -5.41%
YEN 0.0549 0.0533 -4.92% (US$/oz)
YUAN 1.1072 1.0919 -14.67%
CFA FRANC 85.8482 88.0497 11.90% 2,223.29 2,163.14 -9.26%
COCOA
Source: Bank of Ghana (US$/MT)
Source: Bloomberg, Bullion by Post, ICCO

JUSTIFICATIONS FOR INCLUDING STOCKS IN A PORTFOLIO ANALYSTS

Typically, stocks outperform all other investment options over a ten-year period
Godwin Kojo Odoom: Senior Research Analyst
making them a must for long term portfolio.
They are excellent vehicles for retirement. Obed Owusu Sackey: Analyst
Except for a few short periods, stocks have consistently outpaced the rate of inflation.

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