It was a subdued session at the Ghana Stock Exchange (GSE) on Tuesday, August 23 with stocks ending slightly lower on a weak turnover.
At the end of the trading session, seven GSE listed equities participated in trading, ending with disappointingly two losers, namely, MTN Ghana (-4.21%) and Ecobank Ghana (-0.15%). There were no gainers.
MTN Ghana closed its trading day (Tuesday, August 23, 2022) at GHS0.91 per share on the Ghana Stock Exchange (GSE), recording a 4 pesewa drop from its previous closing price of GHS0.95. However, MTN began the year with a share price of 1.11 GHS but has since lost 18% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance.
MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (May 25 – Aug 23, 2022). MTNGH has traded a total volume of 186 million shares valued at GHS 153 million over the period, with an average of 2.96 million traded shares per session. A volume high of 60.8 million was achieved on August 2nd, and a low of 665 on August 5, for the same period.
Another loser on the day was Ecobank Bank Ghana. The bank closed its last trading day (Tuesday, August 23, 2022) at GHS6.79 per share on the Ghana Stock Exchange (GSE), recording a 1 pesewa drop from its previous closing price of GHS6.80.
Ecobank also began the year with a share price of GHS7.60 but has since lost 10.7 percent off that price valuation, ranking it 30th on the GSE in terms of year-to-date performance.
Ecobank Ghana is the 17th most traded stock on the Ghana Stock Exchange over the past three months (May 25 – Aug 23, 2022). EGH has traded a total volume of 54,422 shares valued at GHS 380,647 over the period, with an average of 864 traded shares per session. A volume high of 9,772 was achieved on August 5 for the same period.
Trading Activity
On the activity level, trading session on the Ghana Stock Exchange ended with a total of 1,087,341 shares, corresponding to a market value of GHS 1,156,204.85.
MTN Ghana recorded the highest volume of 933,028 traded shares, followed by SIC Insurance Company (91,406), GCB Bank (40,129) and Benso Oil Palm Plantation (12,904).
The loss by the telecommunication and banking stocks affected the performance of the major indices. The benchmark GSE Composite Index (GSE-CI) declined 47.41 (-1.87%) points to close at 2,485.63 points. The GSE Financial Stocks Index (GSE-FSI) also decreased by 0.03% to 2,034.82 points.
The market capitalization also declined from GHS 64.4 billion to the GHS 63.9 billion.
READ ALSO: Abokobi Rural Bank Bank Records An Impressive 330% Jump in Profit
