The Ghana Stock Exchange (GSE) was adrift on the final day of the week, as two major stocks posted gains and another two also posted losses at the end of a mixed session, while the market continued to witness bargain hunting for value stocks from investors.
Strong demand in the stocks of market leader such as, MTN Ghana and a new entrant such as Trust Bank Gambia, buoyed a sterling performance of the listed equities to further inch up the GSE all-share index.
On the other hand, losses in Cal Bank and Fan Milk Limited reduced the performance of the local bourse.
In all, 10 GSE equities participated in trading, ending with two gainers and two losers. The two gainers were Trust Bank Gambia (+2.94%) and MTN Ghana (+0.93%). The two losers on the day were CAL Bank (-5.75%) and Fan Milk (-1.25%).
The Trust Bank Gambia (TBL) closed its trading day (Friday, January 14, 2022) at GH¢0.35 per share on the Ghana Stock Exchange, recording a 2.94 percent gain over its previous closing price of GH¢0.34. Trust Bank Gambia began the year with a share price of 0.34 GHS and has since gained 2.94% on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
However, Trust Bank Gambia is the 20th most traded stock on the Ghana Stock Exchange over the past three months (Oct 13, 2021 – Jan 14, 2022). TBL has traded a total volume of 5,880 shares valued at GHc 2,058 over the period, with an average of 93 traded shares per session. A volume high of 5,666 was achieved on January 14, for the same period.
Similarly, MTNGH closed its trading day (Friday, January 14, 2022) at GHc1.09 per share on the Ghana Stock Exchange, recording a 0.93% gain over its previous closing price of GHc1.08. MTN began the year with a share price of GHc1.11 but has since lost 1.8% off that price valuation, ranking it fourth on the GSE in terms of year-to-date performance. The marginal gain by MTN could allay shareholders’ worries by the fact that MTNGH is beginning to recover the 6% loss suffered from December 13 to date.
Losers
CAL closed its trading day (Friday, January 14, 2022) at GHc0.82 per share on the Ghana Stock Exchange (GSE), recording a 5.75% share price depreciation from its previous closing price of GHS0.87. CAL began the year with a share price of GHc0.87, but has since lost 5.75% off that price valuation, ranking it fifth on the GSE in terms of year-to-date performance.
CAL Bank is the second most traded stock on the Ghana Stock Exchange over the past three months (Oct 13, 2021 – Jan 14, 2022). CAL has traded a total volume of 4.74 million shares valued at GHS 3.86 million over the period, with an average of 75,213 traded shares per session. A volume high of 1.35 million was achieved on November 11, 2021 for the same period.
Another loser on the day was Fan Milk Limited (FML). It closed its trading day (Friday, January 14, 2022) at GHc3.95 per share on the Ghana Stock Exchange, recording a 1.25% drop from its previous closing price of GHc4.00. Fan Milk began the year with a share price of GHc4.00 but has since lost 1.25% off that price valuation, ranking it third on the GSE in terms of year-to-date performance.
Market Activity Improves
Friday’s performance led to an improvement in the market activity. At the end of the last weekday of trading on the Ghana Stock Exchange (GSE), a total of 1,012,020 shares, corresponding to a market value of GHS 1,854,295.19, were traded. Compared with the previous GSE trading day (Thursday, January 13), Friday’s data showed 248% improvement in volume and 447% improvement in turnover.
Topping the chart of most traded stocks by volume was MTN Ghana. MTN Ghana recorded the highest volume of 917,050 traded shares, followed by Standard Chartered Bank (35,465), CAL Bank (19,015) and Enterprise Group (17,646).
With regards to the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) climbed 8.38 (0.3%) points to close at 2,762.03 points, representing a week on week gain of 0.72%. However, it led to a month on month loss of 1.71%, and an overall year-to-date loss of 0.98%.
The GSE Financial Stocks Index (GSE-FSI), on the other hand, decreased by 0.24% to 2,146.76 points, making it a week on week loss of 0.24%, a month on month gain of 3.53%, and a year-to-date loss of 0.24%.
The current market capitalization of the Ghana Stock Exchange stands at GHS 64.2 billion, which is an advancement on the previous one.
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