The last few minutes of the trading session at the Ghana Stock Exchange (GSE) on Tuesday, May 16, 2023 saw the main indexes swing from losses to gains – albeit marginal.
In total, 2 stocks enjoyed gains, 1 took losses and 11 remained unchanged. The top movers were Fan Milk Limited (FML), Societe Generale, MTN Ghana, Goil, Total and Ecobank Transnational Incorporated (ETI).
FML closed its trading day at GHS1.00 per share on the Ghana Stock Exchange. However, Fan Milk 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. Shareholders’ worries are compounded by the fact that FML has lost 6% of the stock’s value from April 14 to date.
Fan Milk is the third most traded stock on the Ghana Stock Exchange over the past three months (Feb 10 – May 16, 2023). FML has traded a total volume of 4.54 million shares valued at GHS 4.57 million over the period, with an average of 72,030 traded shares per session. A volume high of 2.35 million was achieved on May 16th for the same period.
Fan Milk Plc is currently the 22nd most valuable stock on the GSE with a market capitalization of GHS 116 million, which is about 0.171% of the Ghana Stock Exchange equity market.
Societe Generale Ghana Ltd. (SOGEGH) on the other hand, closed its trading day at GHS0.60 per share on the Ghana Stock Exchange. Societe Generale began the year with a share price of 1.00 GHS but has also since lost 40% off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance.
Societe Generale Ghana is the seventh most traded stock on the Ghana Stock Exchange over the past three months (Feb 10 – May 16, 2023). SOGEGH has traded a total volume of 312,460 shares valued at GHS 196,324 over the period, with an average of 4,960 traded shares per session. A volume high of 67,684 was achieved on March 28 for the same period.
MTNGH Enjoys a Fruitful Outing
MTNGH has enjoyed a fruitful outing since the start of the year. It closed its trading day at GHS1.26 per share on the Ghana Stock Exchange (GSE). MTN began the year with a share price of GHS0.88 and has since gained 43.2% on that price valuation, ranking it third on the GSE in terms of year-to-date performance.
MTN Ghana remainsthe number one most traded stock on the Ghana Stock Exchange over the past three months (Feb 10 – May 16, 2023). MTNGH has traded a total volume of 186 million shares valued at GHS 174 million over the period, with an average of 2.95 million traded shares per session. A volume high of 160 million was achieved on March 24th for the same period.
At the end of the trading session on the Ghana Stock Exchange, a total of 2,359,177 shares, corresponding to a market value of GHS 2,366,907.51, were traded. Compared with the previous GSE trading day (Monday, May 15), Tuesday’s data showed 615% improvement in turnover. Meanwhile, the current market capitalization of the Ghana Stock Exchange is GHS 68.1 billion.
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) closed at 2,722.79 points, representing a 1-week gain of 0.47%, a 4-week gain of 1.49%, and an overall year-to-date gain of 11.41%.
The GSE Financial Stocks Index (GSE-FSI) also closed 1,720.27 points, making it a 1-week loss of 0.14%, a 4-week loss of 4.31%, and a year-to-date loss of 16.19%.
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