The Ghana Stock Exchange (GSE) maintained its losing streak on Wednesday, 25th January, 2023 with the main index declining further to the red territory for the third consecutive day of the week.

While some African bourses headed higher and some traders indulged in profit-taking, buyers retained the upper hand, with the benchmark index edging closer to the psychological 2,400 points.

The benchmark GSE Composite Index (GSE-CI) which is a market capitalization weighted index comprising all listed ordinary shares with the exception of those of listed companies that have shares listed on other markets, pared 0.60 points by the close of trading session, representing a decline of 0.02 percent points to close at 2,431.24 points.

The decline led to a week-on-week loss of 0.25 percent, a month-on-month loss of 0.54 percent, and an overall year-to-date loss of 0.52 percent. In the intervening time, the GSE-CI is regarded as the benchmark index of the Ghana stock market.

The GSE Financial Stocks Index

Similarly, the GSE Financial Stocks Index (GSE-FSI) which has its constituents stocks from the financials sector, including those in the banking and insurance industries also decreased by 0.05 percent to peg at 2,042.80 points, making it a 1-week loss of 0.21 percent, a 4-week loss of 0.5 percent, and a year-to-date loss of 0.48 percent.

The general negative midweek results on the local bourse was largely driven by the depreciation of Cal Bank’s stocks on the GSE. Out of the 10 GSE listed equities that participated in trading, the session ended with one loser, namely CAL Bank, with 1.75 percent share price depreciation.

CAL Bank Limited (CAL) was part of the blue chips that lost in the previous session. The banking stocks succumbed again to the selling pressure and lost yet again. CAL closed its trading day (Wednesday, January 25, 2023) at GHS0.56 per share on the Ghana Stock Exchange, recording a pesewa drop from its previous closing price of GHS0.57.

CAL began the year with a share price of 0.65 GHS but has since lost 13.9 percent off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance.

CAL Bank is the sixth most traded stock on the Ghana Stock Exchange over the past three months (Oct 24, 2022 – Jan 25, 2023). CAL has traded a total volume of 513,506 shares valued at GHS 330,280 over the period, with an average of 8,151 traded shares per session. A volume high of 137,027 was achieved on January 11, 2023 for the same period.

CAL Bank Limited is currently the 18th most valuable stock on the GSE with a market capitalization of GHS 351 million, which makes about 0.544 percent of the Ghana Stock Exchange equity market.

At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 22,706 shares, corresponding to a market value of GHS 19,237.11, were traded. Compared with the previous GSE trading day (Tuesday, January 24), Wednesday’s data showed 59 percent decline in volume.

MTN Ghana recorded the highest volume of 19,920 traded shares, followed by CAL Bank (2,000), Ecobank Transnational (700) and Ecobank Ghana (51).

The market capitalization of the Ghana Stock Exchange remained the same at GHS 64.5 billion.