The Ghanaian equity market kicked off the week with a modest decline as the Composite Index (GSE-CI) experienced a drop, while the financial index experienced an uptick.
This was as a result of the mix performance recorded by the Ghana Stock Exchange (GSE) on the first day of the week. In all, 16 GSE listed equities participated in trading, ending with two gainers and two losers. The two gainers were SIC Insurance Company (+9.09%) and Societe Generale Ghana (+1.01%). The two losers on the day were CAL Bank (-1.61%) and Ghana Oil Company (-1.25%).
SIC closed its trading day (Monday, August 28, 2023) at GHS0.24 per share on the Ghana Stock Exchange (GSE), recording 2 pesewas gain over its previous closing price of GHS0.22. SIC began the year with a share price of GHS0.31 but has since lost 22.6% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 20% increase of SIC share price since July 28, which is third best on GSE.
Societe Generale Ghana Limited (SOGEGH) also closed its trading day at GHS1.00 per share on the Ghana Stock Exchange (GSE), recording a 1 pesewa gain over its previous closing price of GHS0.99.
Societe Generale Ghana is the 10th most traded stock on the Ghana Stock Exchange over the past three months (May 30 – Aug 28, 2023). SOGEGH has traded a total volume of 149,897 shares valued at GHS 104,828 over the period, with an average of 2,379 traded shares per session.
The Losers on the GSE
On the other hand, CAL Bank, one if the two losers, closed its trading day at GHS0.61 per share on the Ghana Stock Exchange, recording a 1 pesewa drop from its previous closing price of GHS0.62. CAL began the year with a share price of GHS0.65 but has since lost 6.15% off that price valuation, ranking it 30th on the GSE in terms of year-to-date performance.
GOIL completed the list of losers by closing its last trading day at GHS1.58 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewa drop from its previous closing price of GHS1.60. Ghana Oil began the year with a share price of GHS1.72 but has since lost 8.14% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.
Meanwhile, the drop in the share prices of CAL and GOIL stocks, which managed to offset the observed share price gains in SIC and SOGEGH stocks caused the Composite Index (GSE-CI) to experience a drop of 0.29 points (0.01%). As a result, the Composite Index ended the day at 3,069.03 points, with a year-to-date return of 25.58%.
On the other hand, the Financial Stocks Index (GSE-FSI) took an upturn as the share price uptick in SIC and SOGEGH stocks lifted the index up by 0.82 (0.05%) points to settle at 1,696.19 points with a 17.36% YTD loss.
Moreover, at the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 55,596 shares, corresponding to a market value of GHS 55,988.56, were traded. Compared with the previous GSE trading day (Friday, August 25), Momday’s data showed 86% decline in volume.
Meanwhile, the current market capitalization of the Ghana Stock Exchange stands at GHS 73.1 billion.
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