Ghana Stock Exchange (GSE) traded flat with no gain or loss after closing the same way it opened on the first day of the week, Monday 12th June, 2023.
In all, 14 GSE listed equities participated in trading. There were no gainers nor losers. At the end of the trading day, Societe Generale PLC (SOGEGH) opened and closed at GHS0.59. MTNGH opened and closed at GHS1.19. Ecobank Transnational Incorporated (ETI) also opened and closed at GHS0.15. GCB PLC also opened and closed at GHS3.1, while SIC Insurance PLC also ended the day at GHS0.23.
Societe Generale Ghana PLC (SOGEGH) emerged as the clear leader in terms of trading volumes. The company’s shares traded at a remarkable volume of 42,801.00, contributing to a total value of GH¢25,252.59. This amounted to an impressive 60.27% of the overall value traded during the session. This was followed by MTN Ghana (8,031), Ecobank Transnational (7,055) and GCB Bank (1,274).
The flat trading session reflected in both indices. Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,637.55 points.
This represents a week-on-week gain of 4.87 percent, a month-on-month loss of 3.13 percent, but an overall year-to-date gain of 7.92 percent.
The GSE-CI 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. Calculation of the index is based on the volume-weighted average closing price of the constituent stocks.
GSE Financial Stocks Index
In the same vein, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,675.18 points, making it a 1-week loss of 0.04 percent, a 4-week loss of 2.62 percent, and a year-to-date loss of 18.39 percent.
The GSE-FSI is exactly like the GSE-CI but has as its constituents stocks from the financials sector, including those in the banking and insurance industries.
This implies that the market experienced no significant fluctuations during the trading session, maintaining a steady position. As a result, investors can take comfort in the overall stability and resilience of the Ghanaian stock market.
However, the flat performance by key benchmark indicators came with an improved volume of transactions.
At the end of the first weekday of trading on the Ghana Stock Exchange, a total of 61,958 shares, corresponding to a market value of GHS 41,897.28, were traded. Compared with the previous GSE trading day (Friday, June 9), Monday’s data showed 519 per cent improvement in volume.
The current market capitalization of the Ghana Stock Exchange is GHS 67.2 billion.
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