The Ghana stock market opened the new year, 2023 with impressive results even if trading was a fraction of its usual size, but that momentum was grounded on Wednesday when the market recorded no movement in price, thus trading flat in the process.

Positive mood prevailed throughout the day at the Ghana Stock Exchange (GSE), with banks initially leading the way up and rising stocks outnumbering falling ones. However, the session ended with no gainers or losers.

In total, eleven (11) GSE listed equities participated in trading, with major blue chips closing the session same way it started. MTN Ghana opened and closed at GH¢0.88, while Societe General also opened at GHS1 and closed at same price. The others were: SIC Insurance PLC at GHS0.31, Ghana Oil Company at GHS1.72, Guinness Ghana Breweries Limited at GHS2.05, Ecobank Transnational Incorporated at GH0.15, Enterprise Group Limited at GHS3.20, Dannex Ayrton Starwin PLC, and Cal Bank PLC at GHS0.65.

At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 28,623 shares, corresponding to a market value of GHS 25,827.80, were traded. Compared with the previous GSE trading day (Tuesday, January 3), Wednesday’s data showed 62 percent decline in volume.

The Five Top Movers

MTN Ghana recorded the highest volume of 27,511 traded shares, followed by Ghana Oil Company (591), CAL Bank (355) and Enterprise Group (60).

MTN Ghana is the most traded stock on the Ghana Stock Exchange over the past three months (Oct 4, 2022 – Jan 4, 2023). MTNGH has traded a total volume of 45 million shares valued at GHS 39.6 million over the period, with an average of 714,294 traded shares per session. A volume high of 13.1 million was achieved on December 23, for the same period.

MTN Ghana is currently the third most valuable stock on the GSE with a market capitalization of GHS 10.8 billion, which is about 16.8% of the entire Ghana Stock Exchange equity market.

On the other hand, Ghana Oil Company (GOIL) is the second most traded stock on the Ghana Stock Exchange over the past three months (Oct 4, 2022 – Jan 4, 2023). GOIL has traded a total volume of 1.9 million shares valued at GHS 3.27 million over the period, with an average of 30,205 traded shares per session. A volume high of 1.84 million was achieved on December 23, 2022, for the same period.

CAL Bank also emerged as the sixth most traded stock on the Ghana Stock Exchange over the past three months (Oct 4, 2022 – Jan 4, 2023). CAL has traded a total volume of 368,721 shares valued at GHS 259,537 over the period, with an average of 5,853 traded shares per session. A volume high of 110,063 was achieved on December 16, 2022 for the same period.

CAL Bank Limited is currently the 18th most valuable stock on the GSE with a market capitalization of GHS 407 million, which makes about 0.631% of the Ghana Stock Exchange equity market.

Major Indices Remain Unchanged

Analysing 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 2,443.91 points, representing a week-on-week loss of 0.01 percent, a 4-week loss of 0.79 percent.

Similarly, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 2,052.59 points, making it a 1-week loss of 0.02 percent, and a 4-week loss of 1.17 percent.

Meanwhile, the market closed with capitalization of GHS 64.5 billion.