The GSE August Report indicated that favorable investor sentiment across all sectors drove the performance of the Ghana Stock Exchange (GSE) in August 2023.
According to the summary of market activities, the GSE Composite Index surged significantly, surpassing the 3000-point milestone for the first time this year. This resulted in an impressive year-to-date return of 26.22% for investors.
The GSE Financial Stock Index also experienced an uptick in the past month, reducing its year-to-date losses to 14.44%.
The volume and value traded increased substantially on the equities market by 163.34% and 581.62% respectively compared to the previous month.
The top five price gainers for the month were Societe Generale (64.38%), TotalEnergies (32.35%), Standard Chartered Bank (23.33%), BOPP (21.00%) and SIC Insurance (20.00%).
Meanwhile, the Ghana Fixed Income Market (GFIM) also ended the month with 5.33 billion in volume traded, a marginal decrease of 3.68% compared to the previous month and a 66.04% decrease from the same time in 2022.
In all, 91.76% of activity on the market was made up of trades in short-term government securities.
Performance on the Penultimate Day of the Week
Despite the week starting on a good note, Thursday’s performance was mixed. Out of the 12 GSE listed equities that participated in trading, the session ended with two gainers and two losers. The two gainers were Fan Milk (+9.94%) and Standard Chartered Bank (+3.9%). The two losers on the other hand were Ecobank Ghana (-2.56%) and Ghana Oil Company (-2.55%).
Fan Milk continues its impressive performance, closing its trading day (Thursday, September 7, 2023) at GHS1.99 per share on the Ghana Stock Exchange (GSE), recording 18 pesewas gain over its previous closing price of GHS1.81.
Standard Chartered Bank Limited (SCB) also closed its trading session at GHS17.30 per share on the Ghana Stock Exchange, recording GHS0.65 gain over its previous closing price of GHS16.65.
On the other hand, GOIL closed its session at GHS1.53 per share on the Ghana Stock Exchange (GSE), recording a 4 pesewa drop from its previous closing price of GHS1.57. Ghana Oil began the year with a share price of 1.72 GHS but has since lost 11.1% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that GOIL has lost 7% of the stock’s value from August 10 to date.
Ecobank Ghana Limited (EGH) also closed its trading day at GHS3.80 per share on the Ghana Stock Exchange (GSE), recording 10 pesewas drop from its previous closing price of GHS3.90.
The local bourse recorded a massive surge in trading activities, resulting in a remarkable 4,685.02% increase in traded volume and a remarkable 2,371.30% surge in traded value on Thursday compared to the previous day.
At the end of Thursday’s trading session on the Ghana Stock Exchange, a total of 4,030,900 shares, corresponding to a market value of GHS 5,840,766.17, was traded.
Notably, MTNGH dominated the market, accounting for 98.44% of the total value traded by exchanging 3,965,196 shares valued at GH¢5,749,534.20. In contrast, EGL’s presence was marginal, representing only 0.08% of the total turnover, while FML ranked lower in terms of volume traded among the top 5 equities.
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