Listed Stocks on the Ghanaian equities market ticked higher in Wednesday’s session as investors are gladdened by gains made by major stocks to halt a three-day bearish streak.
Meanwhile, the positive traction in the last trading session, September 8, can be attributed to bargain buying across selected large-cap stocks courtesy of gains in Ecobank Ghana, Ghana Oil Company, MTN Ghana and Enterprise Group Limited.
Moreover, all-share Index inched up higher by over 2 percent which subsequently drove the market capitalization to GH¢63.4 billion. The market capitalization in the previous trading session, September 7, stood at GH¢63.01 billion.
In addition, Wednesday’s outing further dragged the market year-to-date performance to moderate at 44.2 percent. The benchmark GSE Composite Index (GSE-CI) also increased by 39.28 points to close at 2,799.69 points, representing a gain of 1.42 percent. This further represents a 1-week gain of 1.77 percent and a 4-week gain of 2.03 percent.
Market Indices
In similar vein, the GSE Financial Stocks Index (GSE-FSI) also increased by 1.38 percent to reach 1,959.18 points. Making it a 1-week gain of 1.55 percent, a 4-week gain of 2.63 percent, and a year-to-date gain of 9.9 percent.
There was an improvement in the level of market activity on Wednesday and this was evidenced in the over 200 and over 300 percent growth in the total volume and total value of units traded respectively.
At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 4,210,903 shares, corresponding to a market value of GH¢ 5,342,680.91, were traded. Previously, a total of 42,010 shares, corresponding to a market value of GH¢ 128,842.12, were traded at the end of Tuesday’s trading session.
Furthermore, most sectoral indices closed in tandem with all share index. The banking sector, oil and gas sector and telecommunication stocks counters, all ended in green with none entering red.
Gainers
In the aggregate, five GSE equities participated in trading, ending with four gainers and no losers. Ecobank Ghana led the gainers chart with 6.27 percent share price appreciation closing at GH¢ 7.80 per share. It’s previous closing price stood at GH¢7.34.
It was followed by Ghana Oil Company. GOIL closed its last trading day (Wednesday, September 8, 2021) at GH¢1.60 per share on the Ghana Stock Exchange. It recorded a 1.9 percent gain over its previous closing price of GH¢1.57.
MTN Ghana also recorded a 1.6 percent gain over its previous closing price of GH¢1.24. It closed its last trading day at GH¢1.26 per share on the Ghana Stock Exchange. Meanwhile, MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months.
To complete the gainers’ list is the Enterprise Group which secured a share price appreciation of 1.45 percent. It gained GH¢ 0.03 on its previous closing price of 2.07 to end the day with GH¢2.10.
Meanwhile, MTN Ghana again recorded the highest volume of 4.2 million traded shares. It was followed by Ecobank Ghana with 5,000 total shares traded and Ghana Oil Company also followed in that order with 3,500. Access Bank Ghana completed the list with 1,000 shares traded.
However, analysts predict volatility in trading activities in the coming days.
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