Following a flurry of trading activities which characterized the Ghana Stock Exchange (GSE) on previous trading session on August 17, a dip in activities on Wednesday, August 18, saw trading on the market fall month-on-month as volumes traded also watered down by over a million shares.
Consequently, value of trade for the period also dipped by more than 100 per cent.
On the flip side, across the sectors, the consumer goods index led the gainers’ table. Unilever Ghana secured a 9.92 per cent share price appreciation.
According to Wednesday’s market report, at the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 53,207 shares, corresponding to a market value of GHc 109,312.50, were traded. Comparatively, at the end of previous trading session on Tuesday, August 17, on the Ghana Stock Exchange (GSE), a total of 5,623,223 shares, corresponding to a market value of GHc 7,130,144.43, were traded.
Market Performance
In the aggregate, eight GSE equities participated in trading, ending with only one gainer, namely Unilever Ghana while the remaining stocks traded flat. In the volume front, MTN Ghana continues to dominate the chart. At last trading session, MTN Ghana recorded the highest volume of 21,872 traded shares. It was followed by Unilever Ghana with 19,200. Moreover, Ecobank Transnational was the next closest, securing 10,666 traded shares and Ecobank Ghana also recorded 732 traded shares.
More so, across the various sectors, performance was mildly bullish as two indices gained while the other indices closed flat.
Regarding the performance of Ghana Stock Exchange market indices, the benchmark GSE Composite Index (GSE-CI) inched up 2.09 points representing 0.08 per cent to close at 2,750.15 points. This led to a 1-week gain of 0.23 per cent and a 4-week gain of 3.89 per cent. Furthermore, this gain translated to an overall year-to-date gain of 41.64 per cent.
Ghana Stock Exchange Financial Index
However, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,909.91 points, making it a one week gain of 0.05 percent. It also culminated to a 4-week gain of 1.02 per cent and a further year-to-date gain of 7.13 per cent.
Additionally, the current market capitalization of the Ghana Stock Exchange also maintained its value at GHc 62.7 billion.
However, experts stated that offers on the market are beginning to decline as an increasing number of retail investors appear to be holding onto their stocks; hence the slowdown in market activity.
Though, the market is somehow doing well among its neighbouring stock exchanges, analysts say the market is still somewhat information-deficient; from companies to the public, and also from analysts to investors. So, the market need more analysts covering the market to create more awareness among the investor community. Thus, unearthing potential investment opportunities. Analysts also pointed out that, companies must also go beyond publishing their results and the occasional appearance at ‘Facts Behind the Figures’, and provide solid guidance to investors.
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