The race between winning and losing stocks on the Ghana Stock Exchange ended up in a dead heat, whilst the market activity swelled up considerably at the end of Monday’s trading session.
Blue chip stocks on Monday failed to capitalise on a gap-up start to the trading session, as it ended up forming a bearish candle on the daily chart by mid-day with barrage of activities, with a long upper wick, reflecting selling at higher level. As the clocks continued to tick away, the market ended up on a flat line with no directional bias.
Overall, 14 GSE listed equities participated in the first week-day trading. There were no gainers nor losers. Some major equities share prices that remained unchanged are as follows: MTN Ghana started and ended the day with a share price of GHS0.90; Cal bank share price remained at GHS0.87; Total also opened and closed at GHS4.10; Aluworks moreover, opened and closed at GH¢0.10; Societe Generale Ghana PLC closed the session at GHS1.19. Tullow Oil Company also did not see any change in share price of GHS11.92.
At the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 1,118,331 shares, corresponding to a market value of GHS 1,018,345.63, were traded. Compared to the previous day’s trading session, Monday’s session saw trading activity level soared more than 100 percent.
In the intervening time, MTN Ghana recorded the highest volume of 1.04 million traded shares on the day. This was followed by CAL Bank at 61,218 traded shares. Total Petroleum Ghana and Aluworks secured 5,224 and 2,849 traded shares respectively.
Benchmark Index Remains the Same
The domestic bourse started the week with a rather narrow session, leaving the benchmark virtually unchanged despite uptick in the country’s short-term bonds in the debt market.
The benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,554.79 points, representing a week on week loss of 0.34 percent, a month on month loss of 5.07 percent, and an overall year-to-date loss of 8.41 percent.
Meanwhile, Analysts indicated that the level of 2,600 points will be a key support to watch out for going ahead of the week.
Similarly, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 2,192.57 points, making it a week on week loss of 0.76 percent, a week on week loss of 0.78 percent , and a year-to-date gain of 1.89 percent.
The market capitalization of the Ghana Stock Exchange remains at GHS 62.3 billion.
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