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No Waves in Ghana’s Equity Market As Share Prices Remain Static

August 11, 2023
Stephen M.Cby Stephen M.C
in Securities/Markets
0
GSE-CI Takes a Dip Amidst Market Challenges

The Ghanaian equity market was mute on price actions during the penultimate day of the trading week as there was no share price movement in the listed stocks.

Out of the 16 GSE listed equities that participated in Thursday’s trading session, every single equity traded flat, meaning there were no gainers nor losers.

As a result of the steady performance of the local bourse, both the benchmark Composite Index (GSE-CI) and the Financial Stocks Index (GSE-FSI remained unchanged and settled at 3,105.52 points and 1,728.38 points levels respectively.

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The stability in the benchmarks was further echoed in their year-to-date returns, with the GSE-Composite Index reflecting an encouraging 27.07% gain, and the Financial Stocks Index posting a -15.80% YTD return.

The Ghana Stock Exchange (GSE) on Thursday witnessed a total volume of 43,111 shares exchanging hands, valued at GH¢73,166.14.

While this represented a modest uptick of 3.49% in trading volume, a simultaneous dip of 6.75% in the overall value traded indicated a mixed sentiment among market participants.

Scancom Plc. Continues to Dominate

Scancom Plc. (MTNGH) continued to assert its dominance on the volume chart, accounting for a substantial 64.36% of the total value traded with its transaction of 30,777 shares, valued at GH¢47,088.81.

MTNGH has traded a total volume of 24 million shares valued at GHS 32.2 million over the period, with an average of 381,441 traded shares per session. A volume high of 5 million was achieved on August 1, and a low of 150 on June 16, for the same period.

Following suit, SIC made its presence felt by trading 4,021 shares valued at GH¢804.2. SIC Insurance Company is the seventh most traded stock on the Ghana Stock Exchange over the past three months (May 12 – Aug 10, 2023). SIC has traded a total volume of 613,359 shares valued at GHS 130,900 over the period, with an average of 9,736 traded shares per session. A volume high of 245,959 was achieved on July 20 for the same period.

On the other hand, EGH recorded relatively lower traded volumes, with a turnover of GH¢3,915.00, securing its place among the top 5 traded equities.

Societe Generale Ghana Ltd. (SOGEGH) also recorded 2,426 total volume of shares traded while Ghana Oil Company also recorded 2,239 traded shares. Societe Generale Ghana is the 10th most traded stock on the Ghana Stock Exchange over the past three months (May 12 – Aug 10, 2023). SOGEGH has traded a total volume of 195,146 shares valued at GHS 118,567 over the period, with an average of 3,098 traded shares per session.

Meanwhile, the absence of gainers or losers in the market portrayed a certain equilibrium in the market dynamics. Consequently, the total market capitalization experienced a lateral movement, closing at GH¢73.48 billion, indicative of the cautious undertone prevalent throughout the trading session.

READ ALSO: OSP Denies Revealing Bank Account Details Of Cecilia Dapaah

Tags: benchmark Composite Index (GSE-CI)Ghana Stock ExchangeNo Waves in Ghana’s Equity MarketScancom PlcSOGEGH
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