The poor performance of the Ghana Stock Exchange (GSE) which has become the central theme for the Exchange this year persisted in the penultimate quarter of the year as the local bourse ended the third quarter in the negatives again.
The GSE Composite Index (GSE-CI) and GSE Financial Stock Index (GSE-FSI) closed the third quarter of 2022 with YTD returns of negative 11.8 per cent and negative 3.80 per cent, respectively, compared to 47.06 per cent and 15.28 per cent recorded at the end of last year’s 3rd quarter, September 2021.
However, as a result of decent performance from some financial sector stocks, the Ghana Stock Exchange Financial Index (GSE-FSI) performed better than the GSE composite index (GSE-CI). The financial sector stocks responsible for the major price recoveries are Access Bank PLC, TBL, and SIC.
During the quarter three, there were four gainers. Access Bank PLC was the top gainer with a quarterly return of 59.76 per cent, closing the quarter at GHS4.01. However, the final quarter of the year started very slowly as the bank is yet to record a share price movement. Access Bank PLC still closed its trading day (Wednesday, October 26, 2022) at GHS4.01 per share on the Ghana Stock Exchange (GSE). However, Access began the year with a share price of GHS3.15 and has since gained 27.3 percent on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.
The second gainer for the quarter was Trust Bank Gambia Limited (TBL) with a quarterly return of 9.09 per cent. TBL ended the 3rd quarter with a share price of GHS 0.55. Trust Bank Gambia began the year with a share price of GHS0.34 and has since gained 61.8% on that price valuation, ranking it third on the GSE in terms of year-to-date performance.
BOPP was the third gainer, ending the quarter at GHS6.48, which represented an eight per cent quarterly gain.
Similarly, SIC Insurance PLC was the fourth gainer, ending the quarter at GHS0.33, representing a quarterly gain of 6.45 per cent.
Pack of Losers
On the other hand, GCB led the pack of 12 losers, ending the quarter at GHS4. GCB began the year with a share price of 5.24 GHS but has since lost 24.6% off that price valuation, ranking it 36th on the GSE in terms of year-to-date performance.
GCB Bank’s loss represented a quarterly loss of 20 per cent and was followed by Societe Generale Ghana Limited (SOGEGH), which ended the quarter at GHS1, representing a 15.25 per cent quarterly loss.
The other losers were Ecobank Ghana Limited (EGH), Ecobank Transnational Incorporated (ETI) Unilever Ghana (UNIL), Camelot Ghana Limited (CMLT), Guinness Ghana Breweries (GGBL), Enterprise Group Ghana (EGL), MTN Ghana (MTNGH), Ghana Oil (GOIL), Standard Chartered Bank (SCB), and Mega African Capital Limited (MAC).
