Listed Stocks on the Ghanaian equities market ticked higher on Thursday’s session as Ecobank Transnational Incorporated led the Santa Claus rally to extend it’s gaining streak to three consecutive sessions ahead of the Christmas.
The positive traction on Thursday, December 23, trading session, can be attributed to bargain buying across selected large-cap stocks courtesy of gains in Ecobank Transnational Incorporated, Enterprise Group Ghana, and Societe Generale Ghana Limited.
The all-share Index inched up higher by over 2 percent which subsequently drove the market capitalization to GH¢64.5 billion. The market capitalization in the previous trading session, December 22, stood at GH¢63.9 billion.
Thursday’s outing further dragged the market year-to-date performance to moderate at 44.66 percent. The benchmark GSE Composite Index (GSE-CI) also increased by 10.67 points to close at 2,808.69 points, representing a one week gain of 0.31 percent. However, this led to a month on month loss of 1.88 percent.
Market Indices
In similar vein, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.92 percent to reach 2,135.41 points, making it a week on week gain of 2.82 percent. It also led to a month on month gain of 2.75 percent, and a year-to-date gain of 19.78 percent.
There was an improvement in the level of market activity on Thursday, 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 the trading session on the Ghana Stock Exchange (GSE), a total of 3,299,455 shares, corresponding to a market value of GHS 4,163,315.43, were traded. Compared with the previous GSE trading day (Wednesday, December 22), Thursday’s data showed 294 percent improvement in volume and 345 percent improvement in turnover.
Most sectoral indices also closed in tandem with all share index. The banking sector, food and beverages sector, all ended in green with none entering red.
Gainers
In the aggregate, seven GSE equities participated in trading, ending with three gainers and no losers. Ecobank Transnational Incorporated led the gainers chart with 8.33 percent share price appreciation closing at GH¢0.13 per share. It’s previous closing price stood at GH¢0.12.
It was followed by Enterprise Group Ghana. Enterprise Group closed its trading day (Thursday, December 23, 2021) at GH¢2.66 per share on the Ghana Stock Exchange (GSE), recording a 5.1 percent gain over its previous closing price of GH¢2.53. It thus, recorded a gain of GH¢0.13.
To complete the gainers’ list is the Societe Generale Ghana (SOGEGH). SOGEGH closed its trading day (Thursday, December 23, 2021) at GHc1.20 per share on the Ghana Stock Exchange (GSE), recording a 1.7 percent gain over its previous closing price of GHc1.18. Societe Generale began the year with a share price of GHc0.64 and has since gained 87.5 percent on that price valuation, ranking it sixth on the GSE in terms of year-to-date performance.
Societe Generale Ghana is the seventh most traded stock on the Ghana Stock Exchange over the past three months (Sep 27 – Dec 23, 2021). SOGEGH has traded a total volume of 854,591 shares valued at GHS 1.02 million over the period, with an average of 13,565 traded shares per session. A volume high of 304,055 was achieved on December 10th for the same period.
Though traded flat, MTN Ghana recorded the highest volume of 3 million traded shares. It was followed by Fan Milk with 124,632 total shares traded. Societe Generale Ghana and Ecobank Transnational completed the list of top movers with 69,198 and 50,000 traders shares respectively.
However, as the year draws to an end, analysts predict volatility in trading activities in rest of the days.
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