The Ghana Stock Exchange (GSE) exhibited enough resistance to stop the benchmark index from further going south as it ended the week with no change in index.
The last couple of days saw the benchmark index lost ground rapidly after mixed sessions that had a sting in the tail, given that for most of the days the main index was in the red, while other times, it marginally went up.
However, on Friday, May 20, 2022, the benchmark index remained on the line as it closed the session with the same points it opened with. The benchmark GSE Composite Index (GSE-CI) did not see any change, as it closed at 2,564.20 points. Meanwhile, this represents a 1-week gain of 0.09 percent, a 4-week loss of 4.91 percent, and an overall year-to-date loss of 8.07 percent.
The situation was not different with the financial sector index. The GSE Financial Stocks Index (GSE-FSI) also maintained its value at 2,210.43 points, making it a 1-week gain of 0.19 percent, but a 4-week loss of 0.42 percent, and a year-to-date gain of 2.72 percent.
Another area that saw no change was the market capitalization which measures the total value of a company’s shares of stock on the domestic market. The market capitalization of the Ghana Stock Exchange remains at GHS 62.5 billion.
Gainers and Losers
In the aggregate, 12 GSE listed equities participated in trading, ending with only one gainer, namely NewGold ETF, with 0.77 percent share price appreciation. The session ended with no loser as all the major stocks traded flat.
NewGold ETF (GLD) closed its trading day at GHS143.60 per share on the local bourse, recording GHS1.10 gain over its previous closing price of GHS142.50. It is worth noting that NewGold ETF began the year with a share price of GHS108.60 and has since gained 32.2 percent on that price valuation, ranking it third on the GSE in terms of year-to-date performance.
NewGold ETF is the 21st most traded stock on the Ghana Stock Exchange over the past three months (Feb 16 – May 20, 2022). GLD has traded a total volume of 32,986 shares valued at GHS 4.98 million over the period, with an average of 524 traded shares per session. A volume high of 16,488 was achieved on March 23 for the same period.
Trading By Volume
At the end of the final weekday of trading on the domestic market, a total of 38,455 shares, corresponding to a market value of GHS 2,403,600.51, were traded. Compared with the previous GSE trading day (Thursday, May 19), Friday’s data showed 161 percent improvement in turnover.
NewGold ETF recorded the highest volume of 16,488 traded shares, followed by MTN Ghana (10,520), GCB Bank (4,126) and Republic Bank Ghana (3,355).
