The decline of daily turnover on the Ghana Exchange (GSE) on Friday, July 1, 2022 did not come with any growth in stock prices, as once again the closing auctions denied the benchmark a positive finish.

The decline of the turnover came on the back of decline in volume of transactions. The level of trading activities across the market ended in the red as the total value and volume traded at the end of the trading session declined.

At the end of the final weekday of trading on the Ghana Stock Exchange (GSE), a total of 16,241 shares, corresponding to a market value of GHS 24,784.83, were traded. Compared with the previous GSE trading day (Thursday, June 30), Friday’s data showed 83 percent decline in volume and a further 84 percent decline in turnover.

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In all, ten (10) GSE listed equities participated in trading. There were no gainers nor losers. MTN Ghana recorded the highest volume of 6,430 traded shares. This was followed by CAL Bank PLC with 4,926 traded shares, while SIC Insurance Company PLC also recorded 1,496 traded shares and Ecobank Ghana completing the list with 1,252 traded shares.

Performance of GSE Market Indices

Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,545.48 points. This represents a week on week gain of 1.52 percent, but a month on month loss of 0.22 percent, and an overall year-to-date loss of 8.74 percent.

The story is not different from the financial index as the GSE Financial Stocks Index (GSE-FSI) also maintained its value at 2,176.97 points, making it a week on week gain of 0.31 percent, a month on month loss of 0.4 percent, and a year-to-date gain of 1.17 percent.

The total market cap of GSE-listed firms, which reflects investor wealth, maintained its value at GH¢ 64.8 billion.

However, the local bourse, while trading flat, generally outperformed most of its Africa peers on a difficult day for stocks across the bloc.

In this trading week on Ghanaian domestic equities market, investors and traders are expected to get ahead in their projections that bargain buying activities would drive a modest positive performance on the market.