Both the Composite Index (GSE-CI) and Financial Stocks Index (GSE-FSI) hit a stumble as the two indices lost 0.18 and 0.34 points respectively in the mid-week trading session of the week as a result of decline in SIC Insurance PLC.

The benchmark GSE Composite Index (GSE-CI) pared (-0.01%) to settle at 2,861.29 points, representing a 1-week gain of 0.01%, a 4-week gain of 5.48%, and an overall year-to-date gain of 17.08%.

Similarly, the GSE Financial Stocks Index (GSE-FSI) also decreased by 0.02 percent to 1,685.64 points, making it a 1-week gain of 0.02 percent, a 4-week loss of 0.51 percent, and a year-to-date loss of 17.88 percent.

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In total, 12 GSE listed equities took part in trading, ending with one loser, namely SIC Insurance Company, with 4.76% share price depreciation.

SIC Insurance PLC Loses

SIC Insurance PLC ended the trading session (Wednesday, July 19, 2023) at GHS0.20 per share on the Ghana Stock Exchange (GSE), recording a pesewa drop from its previous closing price of GHS0.21.

SIC began the year with a share price of GHS0.31 but has since lost 35.5% off that price valuation, ranking it 36th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that SIC has lost 13% of the stock’s value from June 20 to date.

SIC Insurance Company is the 10th most traded stock on the Ghana Stock Exchange over the past three months (Apr 19 – Jul 19, 2023). SIC has traded a total volume of 335,069 shares valued at GHS 80,042 over the period, with an average of 5,319 traded shares per session. A volume high of 142,108 was achieved on May 29 for the same period.

SIC Insurance Company Limited is currently the 26th most valuable stock on the GSE with a market capitalization of GHS 39.1 million, which makes about 0.055% of the Ghana Stock Exchange equity market.

At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 19,327 shares, corresponding to a market value of GHS 12,582.57, were traded. Compared with the previous GSE trading day (Tuesday, July 18), Wednesday’s data showed 60% decline in volume and 66% decline in turnover.

SIC Insurance Company recorded the highest volume of 12,697 traded shares, followed by CAL Bank (3,603), MTN Ghana (1,112) and Ecobank Transnational (601).

The current market capitalization of the Ghana Stock Exchange stands at GHS 70.8 billion.