The Ghana Stock Exchange (GSE) saw its benchmark climbed marginally to a new height on the final day of the week, Friday, April 8, 2022, despite the absence of many buyers that curtailed the daily turnover.
The benchmark GSE Composite Index (GSE-CI) inched up by 0.67 points to close at 2,693.65 points, representing 0.02 per cent. Unfortunately, this led to a week on week loss of 1.79 per cent and a month on month loss of 1.84 per cent, and an overall year-to-date loss of 3.43 per cent.
Overall, seventeen (17) GSE listed equities participated in trading, ending with only one gainer, namely Societe Generale Ghana, with 0.84 per cent share price appreciation and no loser as the rest of the market traded flat.
Societe Generale Ghana (SOGEGH) closed its trading day (Friday, April 8, 2022) at GHS1.20 per share on the Ghana Stock Exchange (GSE), recording a 0.8 per cent gain over its previous closing price of GHS1.19.
Meanwhile, Societe Generale Ghana is the 10th most traded stock on the Ghana Stock Exchange over the past three months (Jan 11 – Apr 8, 2022). SOGEGH has traded a total volume of 506,730 shares valued at GHS 604,128 over the period, with an average of 8,043 traded shares per session. A volume high of 166,022 was achieved on March 31 for the same period.
Financial Sector Stocks Index
The gain in the financial sector stocks led by Societe Generale Ghana PLC has impacted the over financial sector index. The GSE Financial Stocks Index (GSE-FSI) increased by 0.06 per cent to reach 2,214.18 points. This led to a week on week gain of 1.8 per cent, a month on month gain of 3.38 per cent, and a year-to-date gain of 2.9 per cent.
At the end of the final weekday of trading on the Ghana Stock Exchange (GSE), a total of 79,867 shares, corresponding to a market value of GHS 92,978.85, were traded. Compared with the previous GSE trading day (Thursday, April 7), Friday’s data showed 88 per cent decline in turnover.
Looking at the list of top movers, CAL Bank recorded the highest volume of 29,414 traded shares. This was followed by MTN Ghana with 27,137 traded shares, while Ghana Oil Company also managed to secure 16,626 traded shares and Societe Generale Ghana with 2,540 traded shares.
The current market capitalization of the Ghana Stock Exchange remains at GHS 64 billion.
While inflation continues to be a major point of concern for many market participants, analysts indicated that a number of other major related factors are also central to the Ghanaian stock market at the moment. Analysts are split between whether the market will pick up this week or the performance will further decline during the new week. However, some concluded that given the trend, the market might put up an irregular performance this week which will be characterized by gains and losses.
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