The week at the Ghana stock market began in the same way it had closed on Friday, with healthy gains for the majority of indices driven by the growth registered by telecommunication stocks.
In the aggregate, 21 GSE listed equities participated in trading, ending with only one gainer, namely MTN Ghana, with 4.17% share price appreciation. The two losers on the day were Standard Chartered Bank (-9.74%) and GCB Bank (-0.31%).
MTNGH closed its trading day at GHS1.25 per share on the Ghana Stock Exchange (GSE), recording a 5 pesewa gain over its previous closing price of GHS1.20.
MTN began the year with a share price of GHS0.88 and has since gained 42.1% on that price valuation, ranking it third 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 (Feb 2 – May 8, 2023). MTNGH has traded a total volume of 183 million shares valued at GHS 171 million over the period, with an average of 2.91 million traded shares per session. A volume high of 160 million was achieved on March 24 for the same period.
Laggards on the Day
The two laggards on the day are from the banking sector. Standard Chartered Bank Limited (SCB) was the first loser. SCB closed its trading day (Monday, May 8, 2023) at GHS13.90 per share on the Ghana Stock Exchange, recording a GHS1.50 drop from its previous closing price of GHS15.40. Standard Chartered began the year with a share price of GHS20.16 but has since lost 31.1% off that price valuation, ranking it 36th on the GSE In terms of year-to-date performance.
Standard Chartered Bank is the 19th most traded stock on the Ghana Stock Exchange over the past three months (Feb 2 – May 8, 2023). SCB has traded a total volume of 11,883 shares valued at GHS 199,749 over the period, with an average of 189 traded shares per session. A volume high of 1,346 was achieved on March 17 for the same period.
The other loser on the day was GCB Bank Limited. GCB closed its trading day (Monday, May 8, 2023) at GHS3.19 per share on the Ghana Stock Exchange, recording a pesewa drop from its previous closing price of GHS3.20.
GCB began the year with a share price of GHS3.94 but has since lost 19% off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance.
At the end of the first weekday of trading on the Ghana Stock Exchange, a total of 4,549,942 shares, corresponding to a market value of GHS 6,904,764.83, were traded. Compared with the previous GSE trading day (Friday, May 5), Monday’s data showed 211% improvement in volume and 294% improvement in turnover.
MTN Ghana recorded the highest volume of 2.99 million traded shares, followed by Guinness Ghana Breweries (1.01m), GCB Bank (501,903) and Societe Generale Ghana (28,842).
Meanwhile, the current market capitalization of the Ghana Stock Exchange is GHS 68 billion.
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) increased by 39.26 (1.47%) points to close at 2,710.06, representing a 1-week loss of 1.15%, a 4-week loss of 1.8%, but an overall year-to-date gain of 10.89%.
However, owing to the decline in banking sector stocks, the GSE Financial Stocks Index (GSE-FSI), on the other hand, decreased by 2.02% to 1,722.74 points, making it a 1-week loss of 2.02%, a 4-week loss of 4.65%, and a year-to-date loss of 16.07%.
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