The Composite Index (GSE-CI) experienced a slight decline on the penultimate trading day of the week, losing 1.60 points in the process which was mainly due to the dip in Access Bank Stock (ACCESS) share prices.

The Ghana Stock Exchange (GSE) benchmark Composite Index ended the trading day at 2,859.51 points. This performance translated into a year-to-date (YTD) return of 17.01%, reflecting a modest setback in market sentiment.

The Financial Stocks Index, however, demonstrated resilience, remaining unchanged at 1,682.29 points but bearing the weight of a negative YTD return of -18.04%.

Sadly, the trading day failed to offer any respite as not a single equity managed to advance in price. However, one particular company, Access Bank Ghana PLC (ACCESS), continued to bear the brunt of market pressures, undergoing a two-week decline and shedding GH¢0.10 to close at GH¢3.40.

Access began the year with a share price of 4.01 GHS but has since lost 15.2% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.

Access Bank Ghana is the 19th most traded stock on the Ghana Stock Exchange over the past three months (Apr 13 – Jul 13, 2023). ACCESS has traded a total volume of 46,269 shares valued at GHS 173,488 over the period, with an average of 734 traded shares per session. A volume high of 10,013 was achieved on June 29 for the same period.

Total Volume Traded Booms

Across the market, a total volume of 23,806,264 shares, with an estimated value of GH¢812,997.46, changed hands across seventeen (17) equities. Compared with the previous GSE trading day (Wednesday, July 12), Thursday’s data showed 96% improvement in turnover.

Taking the lead in terms of trading volume, Hords Limited experienced a boom in market activity. Hords recorded the highest volume of 23.7 million traded shares, Scancom PLC (MTNGH) accounted for 35,394 shares valued at GH¢48,135.84, representing a significant 47.86% of the total value traded. Following closely behind, Access Bank Ghana PLC (ACCESS) saw 7,205 shares traded at GH¢24,497.00, accounting for 24.36% of the total value traded.Ghana (7,205) and Cocoa Processing Company (3,500).

Despite these figures, market participants must exercise caution in interpreting the current market performance, as it reflects a specific trading day’s activities and may not necessarily indicate the broader market trend. External factors, such as economic indicators and global market movements, can significantly influence the direction of the Ghanaian stock market.

Investors will be keenly observing future trading sessions to assess whether Access Bank Ghana PLC can reverse its declining trend, while also keeping a close eye on other equities that may present potential opportunities for growth.

This recent slump in Access Bank’s stock price further eroded the total market capitalization, which saw a decrease of GH¢17.39 million to settle at GH¢70.80 billion. This further highlighted the fact that the market is undergoing declining phase.