In spite of the Ghana Stock Exchange (GSE) index losing on the day, NewGold ETF (GLD) has recorded an impressive performance with its share price making massive gains to close the trading session.
Out of the 17 GSE listed equities that participated in trading, the session ended with only one gainer, namely NewGold ETF, with 6.49% share price appreciation and also one loser, namely Fan Milk Limited (-5.66%).
On the Ghana Stock Exchange, NewGold ETF experienced a significant increase in value, gaining GH¢14.23 to close the day at GH¢233.50. In contrast, Fan Milk PLC. (FML) saw a decline in value, shedding GH¢0.06 to end the day at GH¢1.00.
However, this performance adds to a series of good performances by the gold company. NewGold ETF began the year with a share price of GH¢217.80 and has since gained 7.21% on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance. Shareholders can be optimistic about GLD knowing the stock has accrued 6% over the past four-week period — third best on GSE.
NewGold ETF is the 12th most traded stock on the Ghana Stock Exchange over the past three months (Feb 7 – May 11, 2023). GLD has traded a total volume of 88,623 shares valued at GHS 20.2 million over the period, with an average of 1,407 traded shares per session.
Fan Milk also began the year with a share price of GHS3.00 but has since lost 66.7% off that price valuation, ranking it 38th on the GSE in terms of year-to-date performance.
Benchmark GSE-Composite Index
The benchmark GSE-Composite Index, witnessed a marginal dip of 0.67 points to close the day at 2,709.39 points, indicating a year-to-date return of 10.86%. In contrast, the GSE Financial Stocks Index remained constant at 1,722.74 points, indicating a year-to-date return of -16.07%.
Despite the mixed results of individual stocks, the market activity experienced a substantial jump with a 6742.44% spike in volume traded and a 7655.59% increase in value traded. A total of 2,077,707 shares were traded across equities, valued at GH¢ 2,285,825.81. Fan Milk PLC. (FML) emerged as the most traded stock of the day, with 2,003,818 shares valued at GH¢2,004,168.46, representing 87.68% of the total value traded. Societe Generale Ghana PLC. (SOGEGH) followed closely, trading 23,862 shares, valued at GH¢14,794.44, representing 0.65% of the total value traded.
The market capitalization decreased marginally by GH¢34.29, closing the day at GH¢67.99 billion.
Despite the recent mixed results, the Ghana Stock Exchange has maintained a steady performance, reflecting the resilience of the economy and the potential for long-term investment growth.
As the market continues to navigate unprecedented times, investors must exercise caution and diversify their portfolios to mitigate potential risks.
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