Once again the Ghana stock market gave up its early gains, as the end of the session on Monday found the blue chips index in the black while the benchmark posted a minor loss.
In the aggregate, 16 GSE listed equities participated in trading, ending with one loser, namely CAL Bank Limited (CAL), with 5.45% share price depreciation.
CAL closed its last trading day (Monday, September 25, 2023) at 0.52 GHS per share on the Ghana Stock Exchange (GSE), recording a 3 pesewa drop from its previous closing price of GHS0.55. CAL began the year with a share price of GHS0.65 but has since lost 20% off that price valuation, ranking it 34th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that CAL has lost 16% of the stock’s value from August 25 to date.
CAL Bank is the fourth most traded stock on the Ghana Stock Exchange over the past three months (Jun 26 – Sep 25, 2023). CAL has traded a total volume of 1.73 million shares valued at GHS 1.04 million over the period, with an average of 27,491 traded shares per session. A volume high of 704,578 was achieved on June 27 for the same period.
CAL Bank Limited is currently the 21st most valuable stock on the GSE with a market capitalization of GHS 326 million, which makes about 0.44% of the Ghana Stock Exchange equity market.
At the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 173,055 shares, corresponding to a market value of GHS 308,421.54, were traded.
MTN Ghana Records the Highest Volume
MTN Ghana recorded the highest volume of 67,260 traded shares, followed by GCB Bank which recorded 50,942. CAL Bank also secured a total of 22,026 traded shares and Ecobank Transnational completed the list with 19,750.
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) pared 1.73 (-0.05%) points to close at 3,166.51, representing a 1-week gain of 0.24%, a 4-week gain of 3.17%, and an overall year-to-date gain of 29.57%.
The GSE-CI is a market capitalization weighted index comprising all listed ordinary shares with the exception of those of listed companies that have shares listed on other markets. Calculation of the index is based on the volume-weighted average closing price of the constituent stocks.
The GSE Financial Stocks Index (GSE-FSI) also decreased by 0.17% to 1,878.23 points, making it a 1-week gain of 0.65%, a 4-week gain of 10.79%, and a year-to-date loss of 8.49%.
Meanwhile, the GSE-FSI is exactly like the GSE-CI but has as its constituents stocks from the financials sector, including those in the banking and insurance industries. The GSE-CI is regarded as the benchmark index of the Ghana stock market.
Despite the loss, the market capitalization of the Ghana Stock Exchange remains at GHS 74.1 billion.
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