The Ghana Stock Exchange (GSE) indices ended in disappointment as bears dominated proceedings on the day, leaving two major equities bleeding.

In the aggregate, 11 GSE listed equities participated in trading, ending with disappointingly two losers, namely, Ghana Oil Company (-0.65%) and Fan Milk (-0.33%). There were no gainers.

GOIL closed its trading day (Tuesday, September 26, 2023) at GHS1.52 per share on the Ghana Stock Exchange, recording a pesewa drop from its previous closing price of GHS1.53. Ghana Oil began the year with a share price of GHS1.72 but has since lost 11.6% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance.

Ghana Oil Company is the 15th most traded stock on the Ghana Stock Exchange over the past three months (Jun 27 – Sep 26, 2023). GOIL has traded a total volume of 77,216 shares valued at GHS 123,628 over the period, with an average of 1,226 traded shares per session. A volume high of 22,231 was achieved on August 23 for the same period.

Similarly, Fan Milk Plc (FML) also closed its trading day at GHS3.01 per share on the Ghana Stock Exchange (GSE), recording a 1 pesewa drop from its previous closing price of GHS3.02.

Fan Milk is the 12th most traded stock on the Ghana Stock Exchange over the past three months (Jun 27 – Sep 26, 2023). FML has traded a total volume of 134,609 shares valued at GHS 309,635 over the period, with an average of 2,137 traded shares per session. A volume high of 25,234 was achieved on September 26 for the same period.

Benchmark GSE Composite Index Declines

Meanwhile, the lost by the two equities caused the benchmark GSE Composite Index (GSE-CI) to decline by 0.47 (-0.01%) points to close at 3,166.04 points, representing a week-on-week gain of 0.2%, a month-on-month gain of 3.16%, and an overall year-to-date gain of 29.55%.

However, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,878.23 points, making it a 1-week gain of 0.73%, a 4-week gain of 10.73%, and a year-to-date loss of 8.49%.

That notwithstanding, the level of activity marginally improved. At the end of Tuesday’s trading session on the Ghana Stock Exchange, a total of 206,128 shares, corresponding to a market value of GHS 362,733.16, were traded. Compared with the previous GSE trading day (Monday, September 25), the data showed 19% improvement in volume and 18% improvement in turnover.

Chiefly among the stocks that featured are MTN Ghana, which recorded the highest volume of 170,278 traded shares, followed by Fan Milk (25,234), Societe Generale Ghana (3,903) and CAL Bank (2,322).