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Market Report March 2014 MARKET HIGHLIGHTS GSE STOCK INDICES/CAPITALIZATION MARCH 2014 YTD CHANGE MARCH 2013 YTD CHANGE GSE COMPOSITE INDEX (GSE-CI) 2,386.34 11.24% 1,733.47 44.49% GSE FINANCIAL STOCK INDEX (GSE-FSI) 2,092.46 17.12% 1551.80 49.23% MARKET CAPITALIZATION (GH¢ M) 58,684.40 -4.05% 57,740.56 0.85% DOMESTIC CAPITALIZATION (GH¢ M) 12,972.99 10.93% 6,667.79 7.38% MARKET TURNOVER - EQUITIES MARCH 2014 MARCH 2013 VOLUME TRADED 9,965,874 24,025,601 VALUE TRADED (GH¢) 20,389,737.36 29,954,004.86 NUMBER OF TRANSACTIONS 3,386 2,921 TRADING DAYS 21 19 NUMBER OF TRADED SYMBOLS 26 28 MARKET TURNOVER - EQUITIES JAN TO MAR 2014 JAN TO MAR 2013 VOLUME TRADED 41,040,368 68,121,925 VALUE TRADED (GH¢) 64,748,481.23 71,532,210.44 NUMBER OF TRANSACTIONS 9,431 7,914 TRADING DAYS 63 61 NUMBER OF TRADED SYMBOLS 81 88 MARKET DAILY AVERAGES - EQUITIES MARCH 2014 MARCH 2013 AVERAGE VOLUME TRADED 474,565 1,264,505 AVERAGE VALUE TRADED (GH¢) 970,940 1,576,527 AVERAGE NUMBER OF TRANSACTIONS 161 154 LISTINGS MARCH 2014 MARCH 2013 LISTED COMPANIES 34 34 LISTED EQUITIES ORDINARY SHARES 34 34 DEPOSITORY SHARES 1 1 PREFERENCE SHARES 1 1 EXCHANGE TRADED FUNDS 1 1 NUMBER OF LISTED BONDS CORPORATE 0 0 2 YEAR GOG 99 80 3 YEAR GOG 8 9 5 YEAR GOG 4 3 7 YEAR GOG 2 0 EURO BOND (US$) 1 0 DELISTINGS-EQUITIES MAR 2014, MAR 2013) 0 0 BONDS MARCH 2014 MARCH 2013 VALUE OF LISTED BONDS CORPORATE 0 0 GOG BONDS (GH¢ M) 10,032.32 7,079.49 EURO BOND (US$ B) 1.00 0.00 VALUE OF LISTED BONDS TRADED (GH¢ M) 337.37 0.00 VALUE OF LISTED BONDS TRADED (GH¢ M) - JAN - MAR 2014 1,420.99 0 SELECTED ECONOMIC INDICATORS MARCH 2014 MARCH 2013 INFLATION RATE YEAR-ON-YEAR (%) ***14 10.80 INTEREST RATE (%) 91-DAY T-BILL 23.69 22.92 1 YEAR NOTE 22.50 22.50 2 YEAR NOTE 23.00 22.70 3 YEAR NOTE - - 5 YEAR NOTE - - EXCHANGE RATE US$ 1 to 1 GHANA CEDIS 2.68 1.90 UK£ 1 to 1 GHANA CEDIS 4.46 2.92 1 Euro to 1 GHANA CEDIS 3.69 2.48 *** Inflation figure is as at February 2014 GSE Market Report - March 2014 1 INDEX SUMMARY NOV-DEC 1990 - MARCH 2014 Period High Date Low Date End of Period Index % Change Nov - Dec 1990 77.65 12-Nov 70.08 Dec-21 70.08 0.00 1991 69.77 4-Jan 55.49 May-17 64.51 -7.95 1992 72.90 6-Oct 60.15 Jun-23 62.17 -3.63 1993 132.88 30-Dec 63.29 Jan-05 132.88 113.74 1994 334.02 17-May 132.91 Jan-04 298.10 124.34 1995 322.11 25-Oct 296.32 Mar-22 316.97 6.33 1996 385.80 13-Sep 307.42 Jan-12 360.76 13.82 1997 524.21 8-Dec 346.66 Jan-31 511.74 41.85 1998 1,201.08 6-May 511.66 Jan-07 868.35 69.69 1999 903.17 5-Feb 735.39 Dec-22 736.16 -15.22 2000 873.35 22-Sep 737.16 Jan-03 857.98 16.55 2001 1,025.78 1-Aug 856.00 Feb-07 955.95 11.42 2002 1,395.31 30-Dec 955.95 Jan-02 1,395.31 45.96 2003 3,553.42 31-Dec 1,395.36 Jan-02 3,553.42 154.67 2004 7,469.04 25-Aug 3,558.96 Jan-02 6,798.59 91.33 2005 6,901.36 28-Jan 4,751.17 Dec-22 4,769.02 -29.85 2006 5,006.02 29-Dec 4,692.84 Jan-31 5,006.02 4.97 2007 6,599.77 31-Dec 5,001.15 Jan-11 6,599.77 31.84 2008 10,931.36 3-Oct 6,595.92 Jan-02 10,431.64 58.06 2009 10,431.64 2-Jan 5,098.92 Aug-17 5,572.34 -46.58 2010 7,185.05 1-Jun 5,463.83 Jan-14 6,886.31 32.25 2011 1,189.77 18-May 940.04 Dec-16 969.03 -3.10 2012 1,199.72 31-Dec 968.08 Jan-05 1,199.72 23.81 2013 2,341.60 2-Dec 1,198.29 Jan-03 2,255.52 78.81 Mar 2014 2,439.20 21-Feb 2,145.20 Jan-02 2,386.34 11.24 MARKET ACTIVITIES - NOV-DEC 1990 - MARCH 2014 Volume Traded Value Traded Market Cap. - Government Corporate Bonds Period (000) (GH ¢ m) Equities (GH ¢ m.) Bonds (GH ¢ m.) (US$ m.) Nov - Dec 1990 222.00 0.01 3.05 0.50 0.00 1991 1,825.80 0.01 2.96 0.50 0.00 1992 2,044.40 0.02 4.38 0.50 0.00 1993 37,945.47 0.32 9.65 0.50 0.00 1994 93,037.63 7.31 196.84 0.50 0.00 1995 55,838.60 2.71 239.90 - 0.00 1996 35,749.99 2.79 286.27 - 2.55 1997 125,629.14 9.34 255.28 - 4.80 1998 91,446.52 13.40 324.56 - 6.80 1999 49,568.22 6.96 320.54 - 9.50 2000 30,717.09 5.06 365.50 - 11.01 2001 55,295.87 9.23 390.40 100.37 10.20 2002 44,124.20 8.94 618.38 132.69 10.98 2003 96,330.00 38.93 1,261.68 144.24 8.98 2004 104,349.30 65.59 9,761.48 51.63 6.28 2005 81,400.00 46.44 9,185.73 22.50 8.78 2006 98,286.00 47.60 11,249.60 326.15 2.50 2007 287,221.70 140.71 12,368.60 1,333.07 6.40 2008 531,660.00 365.51 17,895.12 1,237.46 6.40 2009 96,767.39 74.19 15,941.92 1,039.14 3.90 2010 330,616.75 151.29 20,116.70 2,576.87 3.90 2011 419,791.08 446.56 47,347.23 3,987.44 3.90 2012 218,134.34 102.20 57,264.22 5,939.25 0.00 2013 313,024.31 456.14 61,158.29 9,260.16 0.00 Mar 2014 41,040.37 64.75 58,684.40 10,032.32 0.00 Total: Dec. 1990 to 3,242,066 2,065.99 Mar 2014 GSE Market Report - March 2014 2 MARKET ACTIVITIES - MARCH 2014 Top 10 Volume Leaders Top 10 Value Leaders Symbol Traded Volume % of Total Volume Symbol Traded Value (GH¢) % of Total Value CAL 5,015,076 40.05 GCB 8,803,206.07 37.19 ETI 2,009,841 16.05 CAL 5,117,332.45 21.62 GCB 1,847,785 14.76 EGL 1,722,235.41 7.28 HFC 1,070,737 8.55 FML 1,708,309.77 7.22 EGL 714,400 5.71 EBG 1,686,604.17 7.12 SOGEGH 587,378 4.69 SCB 1,102,314.91 4.66 FML 237,190 1.89 HFC 1,072,894.11 4.53 EBG 215,444 1.72 SOGEGH 564,041.54 2.38 GOIL 167,157 1.33 ETI 424,610.60 1.79 UTB 111,711 0.89 UNIL 386,815.10 1.63 MARKET ACTIVITIES - JANUARY TO MARCH 2014 Top 10 Volume Leaders Top 10 Value Leaders Symbol Traded Volume % of Total Volume Symbol Traded Value (GH¢) % of Total Value CAL 9,756,962 31.40 GCB 12,736,279.57 28.71 PBC 6,993,006 22.50 CAL 9,736,155.92 21.95 ETI 2,930,704 9.43 FML 5,156,783.08 11.63 GCB 2,635,365 8.48 EBG 2,893,309.65 6.52 SIC 1,944,360 6.26 EGL 2,671,755.23 6.02 HFC 1,382,009 4.45 UNIL 2,259,477.30 5.09 EGL 1,206,401 3.88 SCB 1,864,311.94 4.20 SOGEGH 892,314 2.87 HFC 1,365,917.17 3.08 FML 753,582 2.43 PBC 1,188,788.02 2.68 UTB 582,879 1.88 SOGEGH 794,365.52 1.79 Market Capitalization - End of Months for 2013 and GSE Composite Index - January to December 2014 2014 (GH¢ M) Month 2014 2013 Month 2014 2013 January 62,128.77 53,093.86 January 2,255.52 1,270.72 February 59,410.63 54,977.25 February 2,420.91 1,482.26 March 58,684.40 57,740.56 March 2,386.34 1,733.47 April April May May June June July July August August September September October October November November December December Volume Traded - End of Months - 2013 and 2014 Value Traded - End of Months - 2013 and 2014 (GH¢) Month 2014 2013 Month 2014 2013 January 18,552,660 18,518,954 January 20,686,970.14 9,793,543.52 February 12,521,834 25,577,370 February 23,671,773.73 31,784,662.06 March 9,965,874 24,025,601 March 20,389,737.36 29,954,004.86 April April May May June June July July August August September September October October November November December December Total 41,040,368 68,121,925 Total 64,748,481.19 71,532,210.44 GSE Market Report - March 2014 3 SECTORIAL DISTRIBUTION OF TRADES - FEBRUARY 2014 Sector Volume Traded Value Traded (GH ¢) No.
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    KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY, KUMASI OPTIMAL PORTFOLIO SELECTION (A CASE STUDY OF GHANA STOCK EXCHANGE) By HERMAN YIRBECHAA TAGYANG (B. A. ECONOMICS AND MATHEMATICS) A THESIS SUBMITTED TO THE DEPARTMENT OF MATHEMATICS, KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY IN PARTIAL FUFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF MSc. INDUSTRIAL MATHEMATICS MAY, 2014 DECLARATION I hereby declare that this submission is my own work towards the award of the MSc. degree and that, to the best of my knowledge, it contains no material previously published by another person nor material which had been accepted for the award of any other degree of the university, except where due acknowledgement had been made in the text. Tagyang Yirbechaa Herman ....................................... Student Signature Date Certified by: Mr. Kwaku Darkwa ....................................... Supervisor Signature Date Certified by: Prof. S. K. Amponsah ....................................... Head of Department Signature Date i DEDICATION I wish to dedicate this work to the Glory of God Almighty who has been our help in ages past, our fortress now and is still our hope for many years to come. Also to my lovely wife, Irene Kumah and my parents, Mr and Mrs Tagyang. ii Abstract The knapsack model is employed in many fields of study including Business, Engineering and Economics to solve problems related to resource constraints. The knapsack problem is a form of integer programming problem that has only one constraint and can be used to strengthen cutting planes for general integer programs. These facts make the studies of the knapsack problems and their variants extremely important area of research in the field of operations research.
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    Market Report August 2019 MARKET HIGHLIGHTS GSE STOCK INDICES/CAPITALIZATION AUG 2019 YTD CHANGE AUG 2018 YTD CHANGE GSE COMPOSITE INDEX (GSE-CI) 2,303.80 -10.44% 2,897.53 12.32% GSE FINANCIAL STOCK INDEX (GSE-FSI) 1,999.73 -7.15% 2,691.16 16.47% MARKET CAPITALIZATION (GH¢ M) 57,599.79 -5.78% 55,971.16 -4.82% DOMESTIC CAPITALIZATION (GH¢ M) 23,428.34 -7.72% 19,004.31 16.99% MARKET TURNOVER - EQUITIES AUG 2019 AUG 2018 VOLUME TRADED 42,236,912 9,703,185 VALUE TRADED (GH¢) 34,147,973.58 36,376,494.88 NUMBER OF TRANSACTIONS 1,851 1,718 TRADING DAYS 20 22 NUMBER OF TRADED SYMBOLS 27 30 MARKET TURNOVER - EQUITIES JAN TO AUG 2019 JAN TO AUG 2018 VOLUME TRADED 153,308,690 133,420,238 VALUE TRADED (GH¢) 153,907,629.76 522,389,025.62 NUMBER OF TRANSACTIONS 11,849 14,785 TRADING DAYS 165 166 NUMBER OF TRADED SYMBOLS 37 38 MARKET DAILY AVERAGES - EQUITIES AUG 2019 AUG 2018 AVERAGE VOLUME TRADED 2,111,846 441,054 AVERAGE VALUE TRADED (GH¢) 1,707,398.68 1,653,477.04 AVERAGE NUMBER OF TRANSACTIONS 93 78 MARKET TURNOVER - FIXED INCOME (DEBT) SECURITIES IN GH¢ MILLIONS AUG 2019 AUG 2018 CORPORATE (GH¢ M) 103.23 884.05 GOG NOTES AND BONDS (GH¢ M) 3,483.71 2,102.69 MARKET TURNOVER - FIXED INCOME (DEBT) SECURITIES IN GH¢ MILLIONS JAN TO JUL 2019 JAN TO AUG 2018 CORPORATE (GH¢ M) 2,598.31 2,206.74 GOG NOTES AND BONDS (GH¢ M) 27,243.61 18,780.18 LISTINGS AUG 2019 AUG 2018 LISTED COMPANIES (MAIN MARKET AND GAX) 38 39 LISTED EQUITIES (MAIN MARKET) ORDINARY SHARES 33 34 DEPOSITORY SHARES 1 1 PREFERENCE SHARES 1 1 EXCHANGE TRADED FUNDS 1 1 EQUITIES ON GHANA ALTERNATIVE
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    ADVERT 1 Programme 09:30 – 11:00AM. SESSION ONE – KEYNOTE SPEECHES The 5th Ghana CEO Summit - Programme Outline – MONDAY 17TH –TEUSDAY 18TH MAY 2021 09:30 – 11:00AM. SESSION ONE – KEYNOTE SPEECHES Day 1 - MONDAY 17TH 09:30 – 11:00AM. SESSION ONE – KEYNOTE SPEECHES Expert Insight: Dr. Bright C. Mawudor PHD, Practice Lead, Managed Security Services & Consulting (MEA), Intelligent Security, Dimension Data. Topic - C-Level Engagement in Building Organizational Cyber Resilience in the Covid-19 Era Keynote Speaker I: Dr. K. K. Sarpong, CEO, GNPC. Topic: Digital Transformation: Resetting the Corporate Governance Agenda for a Post-Pandemic Economic Resilience Keynote Speaker II: Mr. Emmanuel Antwi-Darkwa, Chief Executive, Volta River Authority (VRA). Topic – “Powering Ghana’s Digital Agenda with Clean & Sustainable Energy”. SIGA Statement: Hon. Stephen Asamoah Boateng, Director General, State interests and Governance Authority (SIGA). Speech – Mr. Kofi Adomakoh, CEO, GCB Bank. Presentation - Mr. Enoch Entsua-Mansah, CEO, Eris Properties. Keynote Speaker III: Mr. Moses Baiden Jnr, CEO, Margins Group. Topic - The Power of Digital Identities in Resetting Ghana’s Economy. PFABG Keynote Speaker IV: Dr. Maxwell Opoku-Afari, First Deputy Governor, Bank of Ghana. Topic - Resetting Ghana’s Economy: Policy response & Strategies for building a resilient Economy Post-Covid pandemic. Sponsor Presentations and Videos Co ee Break & Networking. 11:00AM – 12 NOON. SESSION TWO – SUMMIT OPENING & PRESIDENTIAL DIALOGUE 5TH GHANA CEO SUMMIT SPEECH: Mr. Ernest De-Graft Egyir CEO, Chief Executives Network Ghana. PRESIDENTIAL SPEECH BY H. E. PRESIDENT NANA AKUFO-ADDO. The President Of The Republic Of Ghana. The Special Guest Of Honour. OFFICIAL OPENING OF THE 5TH GHANA CEO SUMMIT, CORPORATE EXHIBITION, GROUP PHOTOGRAPH & DIALOGUE WITH THE PRESIDENT OF THE REPUBLIC OF GHANA.