The Ghanaian stock market went on a rollercoaster ride as the e-levy tensions increase while investors continue to digest incremental omicron updates. Ecobank Transnational Incorporated (ETI) managed to pull the plug and gained 11.1 percent, leaving its investors feeling positive again about the company’s prospect going into the Christmas season.

The market report showed Ecobank Transnational Incorporated closed its trading day (Monday, December 20, 2021) at GHS0.10 per share on the Ghana Stock Exchange (GSE), recording a one pesewa gain over its previous closing price of GHS0.09, representing a 11.1 percent share price appreciation.

Ecobank Transnational Incorporated began the year with a share price of GHS0.08 and has since gained 25 percent on that price valuation.

The latest outing made Ecobank Transnational the seventh most traded stock on the Ghana Stock Exchange over the past three months (September 22 – December 20, 2021). ETI has traded a total volume of 815,741 shares which is valued at GHS 68,843 over the period, with an average of 12,948 traded shares per session. A volume high of 222,486 was achieved on November 30, for the same period.

Financial Index

The fag-end buying by Ecobank Transnational Incorporated propelled the financial sector counter, with the GSE Financial Stocks Index (GSE-FSI) benefiting from that gain.

The GSE Financial Stocks Index (GSE-FSI) increased by 0.63 percent to reach 2,089.94 points, making it a 1-week gain of 0.79 percent. This led to a month on month gain of 0.53 percent, and a year-to-date gain of 17.23 percent.

Nonetheless, the late selling spree at Ghana Stock Exchange by Total Petroleum Ghana on Monday, which was associated with the December triple witching, offset more than half of Friday’s gains made in the benchmark index.

Total Petroleum Ghana experienced a partial capitulation on the Ghana stock market, with investigators pulling out their monies, leading to the oil and gas stock giant losing 0.2 percent of its share price.

TOTAL closed its trading day (Monday, December 20, 2021) at GHS5.48 per share on the Ghana Stock Exchange (GSE), recording a 0.2 percent drop from its previous closing price of GHS5.49. However, it is worth noting that Total Petroleum Ghana began the year with a share price of GHS2.83 and has since gained 93.6 percent on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.

The strides made by Total Petroleum Ghana over the months is not enough as it lagged in the 17th position of most traded stock on the Ghana Stock Exchange over the past three months (Sep 22 – Dec 20, 2021). TOTAL has traded a total volume of 49,741 shares valued at GHS 257,115 over the period, with an average of 790 traded shares per session. A volume high of 19,092 was achieved on October 12, for the same period.

Benchmark GSE-CI Soared

In the intervening time, the benchmark GSE Composite Index (GSE-CI) climbed 7.08 points to close at 2,818.89 points. This represents 0.25 percent. The gain subsequently led to a 1-week gain of 0.32 percent. Unfortunately, it also led to a cumulative 4week loss of 3.45 percent, but an overall year-to-date gain of 45.18 percent.

In the aggregate, 12 GSE equities participated in Monday’s trading session. The top movers accounted for majority of the transactions. A total of 226,049 shares, corresponding to a market value of GHS 230,749.47, were traded. This sent the market capitalization of the Ghana Stock Exchange to GHS 64.1 billion.

SIC Insurance Company recorded the highest volume of 97,800 traded shares, followed by CAL Bank (60,422), Ecobank Transnational (20,000) and Societe Generale Ghana (16,033).