The Ghana Stock Market declined considerably by 56.56 points over the first week of September 2, 2022 to close at 2,476.48 points from the previous week of 2533.04 points.
As the market activity for the week inched downwards, it translated into a decline in the year-to-date performance which stood at -11.22 percent
The GSE Financial Stock Index (GSE-FSI) on the other hand, also lost 17.13 points for the week under consideration to close at 2,018.25 points. The loss also translated into a year-to-date return of -6.21 per cent.
Last week saw nineteen (19) different equities traded over the week, ending with three (3) decliners. SIC Insurance PLC, MTN Ghana limited and Ecobank Ghana were the decliners of the week.
SIC Insurance PLC lost a combined total of GH¢0.01 for the week. The insurance company opened at a share price of GH¢0.32 but unfortunately closed the week at GH¢0.31. SIC Insurance closed its week at year-to-date of 287.50 percent.
MTN Ghana on the other hand, also lost a total of GH¢0.04 for the week to stand at GHS0.91 per share on the Ghana Stock Exchange. MTN began the year with a share price of GHS1.11 but has since lost 18% off that price valuation, ranking it 34th on the GSE in terms of year-to-date performance.
Ecobank Ghana was the biggest loser on the day with GH¢0.30 loss. EGH closed the week at GHS6.76 per share on the Ghana Stock Exchange (GSE). Ecobank began the year with a share price of GHS7.60 but has since lost 11.1 percent off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.
Total Value of Shares Decline
A total of 1,944,061 shares valued at GH¢1,679,680.70 traded during the week. Compared with the previous trading week, this last week’s data showed a 130.59 percent improvement in volume traded and 96.02 percent decline in trade turnover. Scancom PLC. (MTNGH) ac,counted for 52.20 percent of the total value traded and recorded the most volumes traded. Other equities such as Cal Bank, SIC Insurance Company and Ecobank Transnational shared were wit a combine traded volume of 47.80 percent.
Market Capitalization also decreased by GH¢576.28 million to close the trading week at GH¢63.78 billion.
According to analysts, the stocks to look out for are MTN Ghana, Benso Oil Palm Plantation, Ecobank Ghana and Cal Bank Ghana because they have a strong 2022 second quarter financials.
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