The slide continued at the Ghana Stock Exchange on the penultimate day of the week, with the composite index in particular posting its 2nd consecutive session of losses after suffering a far bigger loss in the previous day.
In Thursday’s trading session, 12 GSE listed equities participated in trading, ending with one loser, namely MTN Ghana, with 2.17 per cent share price depreciation, while the rest traded flat as they closed at the same price they opened.
MTN Ghana closed its trading day (Thursday, May 12, 2022) at GH¢0.90 per share on the Ghana Stock Exchange, recording a 2.17 per cent drop from its previous closing price of GHS0.92. MTN began the year with a share price of GHS1.11 but has since lost 18.9 per cent off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that MTNGH has lost 10 per cent of the stock’s value in just two days.
Meanwhile, MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Feb 8 – May 12, 2022). The Telco giant has traded a total volume of 950 million shares valued at GHS 913 million over the period, with an average of 15.1 million traded shares per session. A volume high of 615 million was achieved on 11th May, and a low of 1,188 on 23rd March, for the same period.
Total Volume Traded Drops
At the end of Thursday’s trading session on the Ghana Stock Exchange (GSE), a total of 14,922,914 shares, corresponding to a market value of GHS 13,462,343.72, were traded. In comparison to the previous day’s trading session, this showed a decline of more than 100 percent. Previously, a total of 615,521,764 shares, corresponding to a market value of GHS 566,210,012.63, were traded (May 11, 2022).
MTN Ghana recorded the highest volume of 14.7 million traded shares, followed by SIC Insurance Company (150,866), Total Petroleum Ghana (40,161) and CAL Bank (5,686).
Performance of GSE Indices
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) dropped 23.49 (-0.91%) points to close at 2,561.64 points, after dropping over 100 points in the previous trading session. This represents a week on week loss of 4.81 per cent, a month on month loss of 4.9 per cent, and an overall year-to-date loss of 8.16 per cent.
On the other hand, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 2,205.98 points, making it a week on week loss of 0.17 per cent, a month on month loss of 0.37 per cent, and a year-to-date gain of 2.52 per cent.
Meanwhile, the market capitalization of the Ghana Stock Exchange which is the total value of all company’s shares of stock, continues to decline. The market capitalization declined from the GHS 62.8 billion previously recorded to the current capitalization of GHS 62.5 billion.
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