GCB Bank Limited Share Price Depreciates by 0.2%

GCB Bank Limited ended the last trading session on July 28 with a decline in it’s share price by 0.2 percent.

According to the market report, GCB Bank Limited closed its last trading day (Wednesday, July 28, 2021) at GHc5.39 per share on the Ghana Stock Exchange (GSE), recording approximately 0.2 percent drop from its previous closing price of GHc5.40.

Meanwhile, GCB Bank Limited began the year with a share price of GHc4.05 and has since gained 33.1 percent on that price valuation. Furthermore, GCB Bank Limited is ranked fourth on the GSE in terms of year-to-date performance.

Moreover, the impressive performance of GCB Bank Limited over the month makes it emerge as the third most traded stock on the Ghana Stock Exchange over the past three months (April 28 – July 28, 2021).

GCB Bank Limited has traded a total volume of 4.16 million shares which is valued at GHc 21.8 million over the period, with an average of 65,961 traded shares per session.

In addition, GCB Bank Limited recorded it’s highest volume of 1.38 million on May 17, 2021 for the same period.

Currently, GCB Bank Limited has a total outstanding shares amounting to 265 million shares. It also has a market capitalization of GHc1.43 billion.

GSE Trading Activity

However, at the end of last trading session on the Ghana Stock Exchange (GSE), trading activity broke out of its flat base to make a progress. The total stock traded gapped up, adding 157 percent as volume swelled more than five times what was recorded previously.

At the close of session, a total of 4,379,165 shares changed hands. This corresponds to a market value of GHc 8,829,456.60.

Compared with the previous Ghana Stock Exchange trading day (Tuesday, July 27), Wednesday’s data show 157% improvement in volume and 308% improvement in turnover.

Meanwhile, in the aggregate, nine GSE equities participated in trading. It thus, ended with only one loser, namely GCB Bank Limited, with 0.2 percent share price depreciation. However, the session ended with no gainers as all other major stocks traded flat.

Moreover, MTN Ghana emerged as the leader of the session. It recorded the highest volume of 3.55 million traded shares. This was followed by GCB Bank Limited with a total of 810,407 shares to lead the financial sector counters. Societe Generale Ghana also followed with 9,228 shares and Ghana Oil Company also secured 3,294 shares on the day.

Market Performance

Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) pared 0.25 (-0.01%) points to close at 2,712.37 points. However, this represents a 1-week gain of 3.38 percent and a 4-week gain of 2.6 percent. Also, it recorded an overall year-to-date gain of 39.7 percent.

However, the GSE Financial Stocks Index (GSE-FSI) also decreased by 0.02 percent to 1,890.15 points, making it a 1-week loss of 0.02 percent, a 4-week gain of 1 percent, and a year-to-date gain of 6.02 percent.

Additionally, the current market capitalization of the Ghana Stock Exchange stands at GHc 62.2 billion.

Meanwhile, analysts predict the market to further improve as a result of increase in demand for bargain stocks.

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