On the penultimate trading day on the Ghana Stock Exchange, SIC Insurance Company PLC recorded a significant improvement in its share price.

Amid the gloom and doom that characterized financial sector stocks, SIC Insurance Company PLC stocks ended the session shining like a beacon. Even when every sector seems to be under selling pressure, the insurance company gave reasons to cheer investors.

Thursday’s trading session ended with 14 GSE listed equities participating in trading. The session meanwhile, ended with only one gainer, namely SIC Insurance Company, with 7.14 per cent share price appreciation. However, 13 major stocks failed to make any significant improvement on there opening share prices as they closed the day with no gain or loss.

SIC Insurance Company PLC (SIC) which was a solitaire gainer, closed its trading day (Thursday, June 2, 2022) at GHS0.30 per share on the domestic market, recording a 2 pesewa gain over its previous closing price of GHS0.28. SIC Insurance PLC which began the year with a share price of 0.08 GHS and has since gained 275% on that price valuation, ranking it first on the GSE in terms of year-to-date performance. Shareholders can be optimistic about SIC knowing the stock has accrued 20 per cent over the past four-week period- best on GSE.

SIC Insurance Company is the fifth most traded stock on the Ghana Stock Exchange over the past three months (Mar 1 – Jun 2, 2022). SIC has traded a total volume of 1.49 million shares valued at GHS 354,972 over the period, with an average of 23,685 traded shares per session. A volume high of 160,260 was achieved on May 11, 2022 for the same period.

Other Share Prices as At Thursday June 2

Some major equities that took part in Thursday’s trading session include: MTN Ghana started and ended the day with a share price of GHS0.90; GCB Bank PLC ended the day with a share price of GHS5.06. Cal bank share price remained at GHS0.80; Total also opened and closed at GHS4.10; Enterprise Group Limited moreover, opened and closed at GH¢3.30; 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.

The gain by SIC Insurance PLC lifted the GSE Financial Stocks Index (GSE-FSI) as it increased by 0.03 percent to reach 2,185.64 points, making it a week on week loss of 0.34 percent, a month on month loss of 1.09 percent, and a year-to-date gain of 1.57 percent.

At the end of Thursday’s trading session on the local bourse, a total of 227,960 shares, corresponding to a market value of GHS 426,116.00, were traded. Compared with the previous GSE trading day (Wednesday, June 1), Wednesday’s data showed 85 percent decline in volume and 65 percent decline in turnover.

CAL Bank recorded the highest volume of 78,244 traded shares, followed by Total Petroleum Ghana (75,950), SIC Insurance Company (50,000) and Societe Generale Ghana (10,800).

The current market capitalization of the Ghana Stock Exchange is GHS 62.2 billion.