The upward trajectory of the Ghana stock market continued for another day on Wednesday, with the increased capitalization being the main feature of this fresh session of growth that led the benchmark to yet another impressive gain.
In all, 18 GSE listed equities participated in trading, ending with only one gainer, namely MTN Ghana, with 8.18% share price appreciation and also one loser, namely Enterprise Group (-0.82%).
The latest gain means that MTN Ghana has successfully made it two out of two after gaining in the previous session as well. MTNGH closed its trading day (Wednesday, June 7, 2023) at GHS1.19 per share on the Ghana Stock Exchange (GSE), recording a 9 pesewas gain over its previous closing price of GHS1.10.
MTN began the year with a share price of GHS0.88 and has since gained 35.2% on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.
MTN Ghana maintained its position as number one most traded stock on the Ghana Stock Exchange over the past three months (Mar 7 – Jun 7, 2023). MTNGH has traded a total volume of 193 million shares valued at GHS 182 million over the period, with an average of 3.06 million traded shares per session.
Enterprise Group Limited Losses
Enterprise Group Limited (EGL) emerged the only laggard on the day. EGL closed its trading day at GHS2.41 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewa drop from its previous closing price of GHS2.43.
Enterprise began the year with a share price of GHS3.20 but has since lost 24.7% off that price valuation, ranking it 34th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that EGL has lost 11% of the stock’s value from May 10 to date.
Enterprise Group is the 12th most traded stock on the Ghana Stock Exchange over the past three months (Mar 7 – Jun 7, 2023). EGL has traded a total volume of 149,595 shares valued at GHS 364,073 over the period, with an average of 2,375 traded shares per session. A volume high of 84,225 was achieved on May 26 for the same period.
Enterprise Group Limited is currently the 18th most valuable stock on the GSE with a market capitalization of GHS 412 million, which is about 0.613% of the Ghana Stock Exchange equity market.
The benchmark GSE Composite Index (GSE-CI) soared 105.67 (4.17%) points to close at 2,637.44 points, representing a 1-week gain of 5.02%, a 4-week loss of 2.68%, but an overall year-to-date gain of 7.92%.
The GSE Financial Stocks Index (GSE-FSI), on the other hand, decreased by 0.04% to 1,675.18 points, making it a 1-week loss of 0.13%, a 4-week loss of 2.76%, and a year-to-date loss of 18.39%.
At the end of the trading session on the Ghana Stock Exchange (GSE), a total of 149,350 shares, corresponding to a market value of GHS 280,359.13, were traded. Compared with the previous GSE trading day (Tuesday, June 6), the data showed 16% decline in volume and 31% decline in turnover.
However, the market capitalization of the Ghana Stock Exchange jumped by GHS 300 million to settle at GHS 67.2 billion.
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