Trading activities on the Ghana Stock Exchange (GSE) remains positive for the second consecutive trading sessions on Monday, August 02, 2021, with MTN Ghana leading the gainers table for the day.
Meanwhile, crucial indicators of the Ghana Stock Exchange also closed on a positive note on Monday to begin the week. The market capitalization also accelerated by 3.2 per cent following gains by some blue chip stocks.
Specifically, the market capitalization increased by GHc200 million to close at GHc 6.4 billion. Previously, it stood at GHc 6.2 billion.
Trading Activity
At the end of the first weekday of trading on the Ghana Stock Exchange, a total of 2,164,384 shares, corresponding to a market value of GHc 1,597,217.01, were traded. Compared with the previous GSE trading day, Monday’s data show 174% improvement in total volume traded.
In all, six GSE equities participated in trading, ending with only one gainer, namely MTN Ghana, with 0.8% share price appreciation. The session, however, ended with no loser with the banking equities dominating the activity chart with Cal Bank and Societe Generale bank leading the way.
Meanwhile, MTN Ghana closed its last trading day (Monday, August 2, 2021) at GHc 1.26 per share on the Ghana Stock Exchange, recording a 0.8% gain over its previous closing price of GHc1.25.
However, MTN Ghana began the year with a share price of GHc0.64 and has since gained 96.9% on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
Moreover, MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (May 4 – Aug 2, 2021). MTNGH has traded a total volume of 84.5 million shares valued at GHc98.9 million over the period, with an average of 1.34 million traded shares per session. A volume high of 11.7 million was achieved on May 7th for the same period.
On the flip side, the market was also dominated by CAL Bank Ghana as it led the financial sector counters. CAL Bank recorded the highest volume of 2.02 million traded shares after a week’s of inactivity on the local bourse. MTN Ghana then followed with 140,941 shares traded while Societe Generale Ghana also secured 1,418 traded shares and Ghana Oil Company traded a total of 543 shares.
GSE Market Performance
Meanwhile, the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) climbed 11.74 points to close at 2,729.04. Percentage wise, the index went up by 0.43 percent, representing a one week gain of 2.95 percent and a four week gain of 2.9 percent, and an overall year-to-date gain of 40.56 percent.
Furthermore, GSE Financial Stocks Index (GSE-FSI) which measures all stocks from the financial sector, maintained its value at 1,890.15 points, making it a 1-week loss of 0.02 percent, a 4-week gain of 0.17 percent, and a year-to-date gain of 6.02 percent.
However, experts predicted that the market will continue to pick up in the coming sessions due to high demand for bargain stocks.
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