The Ghana Stock Exchange (GSE) was adrift on the penultimate day of the week, as two major stock posted gains and another two also posted losses at the end of a mixed session, while the market continued to witness bargain hunting for value stocks from investors.

At the end of the trading day, 17 GSE listed equities participated in trading, ending with two gainers and two losers. The two gainers were NewGold ETF (+7.94%) and Access Bank Ghana (+0.8%). The two losers on the day were Societe Generale Ghana (-9.4%) and Ghana Oil Company (-0.56%).

Gainers at the End of Trading Day

NewGold ETF (GLD) was the biggest gainer on the day. It closed its trading day (Thursday, July 28, 2022) at GHS148.80 per share on the Ghana Stock Exchange (GSE), recording a GHS10.95 gain over its previous closing price of GHS137.85. NewGold ETF began the year with a share price of 108.60 GHS and has since gained 37% on that price valuation, ranking it third on the GSE in terms of year-to-date performance.

GLD has traded a total volume of 67,380 shares valued at GHS 9.52 million over the past three months (Apr 28 – Jul 28, 2022), with an average of 1,070 traded shares per session.

Another gainer on the day was Access Bank PLC. The bank closed its trading day at GHS2.53 per share on the Ghana Stock Exchange (GSE), recording 2 pesewa gain over its previous closing price of GHS2.51. meanwhile, Access Bank began the year with a share price of GHS3.15 but has since lost 19.7% off that price valuation, ranking it 35th on the GSE in terms of year-to-date performance.

Access Bank Ghana is the 16th most traded stock on the Ghana Stock Exchange over the past three months (Apr 28 – Jul 28, 2022). Access Bank has traded a total volume of 53,168 shares valued at GHS 134,412 over the period, with an average of 844 traded shares per session. A volume high of 50,000 was achieved on July 28th for the same period.

The Two Laggards

Societe Generale Ghana Limited (SOGEGH) was one of the two laggards on the day. SOGEGH closed its trading day at GHS1.06 per share on the Ghana Stock Exchange (GSE), recording a 11 pesewas drop from its previous closing price of GHS1.17. Societe Generale began the year with a share price of GHS1.20 but has since lost 11.7% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.

Another loser on the day was Ghana Oil Company Limited (GOIL). GOIL closed its trading day at GHS1.79 per share on the local bourse, recording a pesewa drop from its previous closing price of GHS1.80.

Ghana Oil began the year with a share price of GHS1.82 but has since lost 1.65% off that price valuation, ranking it 26th on the GSE in terms of year-to-date performance.

However, strong demand in the stocks of NewGold ETF and Access Bank PLC, was not enough to buoy the performance of the composite index as it further inched down. The benchmark GSE Composite Index (GSE-CI) shed 6.78 (-0.27%) points to close at 2,518.56 points.

In the same vein, the GSE Financial Stocks Index (GSE-FSI) also declined by 0.61 percent to 2,102.98 points.

That notwithstanding, trading activity on the local bourse witnessed a massive improvement. At the end of trading session on the GSE, a total of 96,168 shares, corresponding to a market value of GHS 191,811.70, were traded. Compared with the previous GSE trading day (Wednesday, July 27), Thursday’s data showed 37 percent improvement in volume and 215% percent improvement in turnover.

The market capitalization of the Ghana Stock Exchange currently stands GHS 64.4 billion.