Trading activities on the nation’s bourse extended losing streak on Tuesday, declining further by N16 billion due to profit taking on 21 stocks.
Speficially, the All-Share Index lost 30.75 points or 0.07 per cent to close at 41,051.63, from 41,082.38 posted on Monday.
Consequently, month-to-date and year-to-date returns moderated to 1.9 per cent.
In the same vein, the market capitalisation lost N16 billion to close at N21.474 trillion compared with N21.490 trillion recorded on Monday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Ardova Plc, BUA Cement, UACN, Access Bank and Red Star Express.
Analysts at Afrinvest Limited said: “Following two consecutive days of losses, we expect investors to take position in bellwethers.”
IGS FSL Investment Update WE 11-12-20 15th Dec 2020 | Source: igsghana.com
Weekly Highlights
• Yields on short-dated treasury securities witnessed mixed adjustment.
• Accra Bourse steeped up recovery to reduce year-to-date losses.
• Ghana cedi outmuscled the British pound and Euro.
• US equity market hit by stimulus talk deadlock.
• Brent crude oil nearly hit the $50.00 mark, as demand picks-up.
Macroeconomic Update
Inflation dropped to 9.8 percent in November
Consumer price inflation settled at 9.8 percent in November 2020. This represents a fourth consecutive decline and the lowest since April 2020. The 0.30 percent moderation spurred by reduced inflationary pressures within the food and non-alcoholic beverage sector, brought the rate into the inflation bound of 8±2 percent target, set by the Government. Food and non-alcoholic sector Inflation settled at 11.7 percent in November 2020 from a previous rate of 12.60 percent. Non-Food inflatio