The Ghana Stock Exchange (GSE) volume of shares traded by close of trading activities on the local bourse on Thursday June 24, 2021 has declined by 55%.
At the end of Thursday’s trading session on the Ghana Stock Exchange (GSE), a total of 380,430 shares, corresponding to a market value of GHc495,086.34, were traded. Compared with the previous GSE trading day (Wednesday, June 23), the volume of shares traded by close of market was 845,852 shares.
According to Thursday’s market report, a total of seven GSE listed equities participated in trading. The market however ended with only one gainer, namely Total Petroleum Ghana. It had a 0.27 percent share price appreciation.
Meanwhile, the other six major stocks which participated in the market traded flat. This means that the opening stock price of these equities have not increased or decreased. It also means that the opening share price was the same as the closing price of shares for these equities.
Market Volume
Furthermore, MTN Ghana recorded the highest volume of shares traded. At the end of market activity, MTN Ghana accounted for 269,877 volume of shares traded. This was followed by Enterprise Group which also accounted for 82,500 volume of shares traded. In addition, CAL Bank and Republic Bank Ghana followed in that order with total volume of shares traded totalling 20,205 shares and 5,358 shares respectively.
GSE Market Indices
Moreover, regarding the performance of GSE market indices, the benchmark GSE- Composite index inched up 0.1 points to close at 2,643.60 points, representing a 1-week loss of 0.13%, a 4-week gain of 9.35%. Compared to the previous trading session, the benchmark GSE- Composite index on June 23, stood at 2,643.50 points.
In addition, the trading session closed with an overall investor’s year-to-date of 36.16% as against 36.15% recorded last week. This index is computed based on the volume weighted average closing price of all listed stocks.
Likewise, the GSE financial Stock index’s (GSE-CI) performance maintained its value at 1,871.41 points, making it a 1-week loss of 0.61%, a 4-week loss of 1.32%, and a year-to-date gain of 4.97%. This however, according to some experts was as a result of major stocks trading flat. This index constitutes stocks from the financial sector including banking and insurance sector stocks.
Furthermore, current market capitalization of the Ghana Stock Exchange is GHc 61.32 billion. This value represents a slight dip compared to the GHc61.33 billion that was formerly recorded after close of trade on the GSE. The Market capitalization captures the total market value of all outstanding shares on the local bourse. Also, investors can use it to determine the worth of various companies listed on the stock exchange.
Meanwhile, the performance of the Ghana Stock Exchange keeps declining throughout the week after starting the week strongly. This led to some experts suggesting that it could be a symptom of a bigger problem of the market not being very active and inefficient.
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