With Equities Analysts expecting the rise in the policy rate to spur more bullish market momentum this week, NewGold ETF (GLD) and Access Bank Ghana (ACCESS) led the charge to stir positive sentiments across the Ghana Stock Market.
Overall, eleven (11) Ghana Stock Exchange (GSE) listed equities participated in trading, ending with two gainers and no loser. The two gainers were NewGold ETF (+46.04%) and Access Bank Ghana (+10%).
New Gold ETF made its first appearance on the local bourse this year with a massive gain as it closed its trading day (Wednesday, March 23, 2022) at GHS158.60 per share on the Ghana Stock Exchange, recording a GHS50.00 gain over its previous closing price of GHS108.60. Meanwhile, NewGold ETF began the year with a share price of GHS108.60 and has since gained 46.04 per cent on that price valuation, ranking it second on the GSE in terms of year-to-date performance.
However, NewGold ETF is the 22nd most traded stock on the Ghana Stock Exchange over the past three months (Dec 20, 2021 – Mar 23, 2022). GLD has traded a total volume of 16,488 shares valued at GHS 2.61 million over the period, with an average of 262 traded shares per session. A volume high of 16,488 was achieved on March 23, 2022 for the same period.
Similarly, ACCESS closed its trading day (Wednesday, March 23, 2022) at GHS2.09 per share on the local bourse, recording a 19 pesewas gain over its previous closing price of GHS1.90. Nonetheless, Access began the year with a share price of GHS3.15 but unfortunately, it has since lost 33.7 percent off its price valuation, ranking it 37th on the GSE in terms of year-to-date performance. Access Bank Ghana is the seventh most traded stock on the Ghana Stock Exchange over the past three months (Dec 20, 2021 – Mar 23, 2022). ACCESS has traded a total volume of 701,755 shares valued at GHS 1.37 million over the period, with an average of 11,139 traded shares per session. A volume high of 434,573 was achieved on March 14th for the same period.
Volume of Shares Performance
At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 75,784 shares, corresponding to a market value of GHS 2,694,821.69, were traded. Compared with the previous GSE trading day (Tuesday, March 22), Wednesday’s data showed 22 per cent improvement in turnover.
The session ended with Ecobank Transnational ranking top among the five most traded stocks by volume with a total of 41,469 traded shares. This was followed by NewGold ETF with 16,488 traded shares while SIC Insurance Company secured 7,918 traded shares and Standard Chartered Bank with 3,090 traded shares.
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) inched up 3.16 (0.12%) points to close at 2,742.57 points. This led to a 1-week gain of 0.14 per cent, a 4-week gain of 1.73 per cent, but an overall year-to-date loss of 1.68%.
The GSE Financial Stocks Index (GSE-FSI) which was largely influenced by the performance of Access Bank PLC, also increased by 0.26 per cent to reach 2,174.45 points, making it a 1-week gain of 0.32 per cent, a 4-week gain of 2.66 per cent, and a year-to-date gain of 1.05 per cent.
The current market capitalization of the Ghana Stock Exchange is GHS 64 billion.
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