On the penultimate day of the trading week 26th October, 2023, Benso Oil Palm Plantation (BOPP) emerged as the only lifeline of the Ghana Stock Exchange (GSE), and championing its rise.
In total, 22 GSE listed equities participated in trading, ending with only one gainer, namely Benso Oil Palm Plantation, with 4.84 percent share price appreciation.
BOPP closed its trading day at GHS19.93 per share on the Ghana Stock Exchange (GSE), recording a 4.8% gain over its previous closing price of GHS19.01.
Benso Oil Palm Plantation began the year with a share price of GHS7.65 and has since gained an impressive 161% on that price valuation, ranking it first on the GSE in terms of year-to-date performance. Shareholders can be optimistic about BOPP knowing the stock has accrued 7% over the past four-week period—third best on GSE.
Benso Oil Palm Plantation is the 21st most traded stock on the Ghana Stock Exchange over the past three months (Jul 28 – Oct 26, 2023). BOPP has traded a total volume of 25,309 shares valued at GHS 446,344 over the period, with an average of 402 traded shares per session. A volume high of 3,107 was achieved on October 26 for the same period.
Benso Oil Palm Plantation Limited is currently the 13th most valuable stock on the GSE with a market capitalization of GHS 694 million, which is about 0.939% of the Ghana Stock Exchange equity market.
On the back of the gain recorded in the BOPP equity, the market capitalization of the GSE increased by GH¢32.02 million to reach a substantial GH¢73.84 billion.
Trading Activity Soars
Trading activity on Thursday’s trading session was robust, with 337,343 shares exchanging hands, collectively valued at GH¢463,538.97. The market witnessed a surge in the number of tenors, demonstrating a significant increase in both traded volumes, which rose by 261.22%, and the value traded, surging by 292.21%, when compared to the preceding trading day.
Notable trading activity for the day included MTNGH, leading the way with an impressive 165,204 shares traded. Following closely, SIC registered 86,489 shares traded, with a total value of GH¢20,757.36. Other noteworthy stocks that constituted the top five in terms of trading volume included PBC, GCB, and UNIL.
The benchmark index, the GSE-Composite Index, exhibited a robust performance, surging by 2.94 points to conclude the day at 3,134.93 points. This growth contributed to a Year-to-Date return of 28.28%, reinforcing the GSE’s favorable market conditions. On the contrary, the Financial Stocks Index remained steady at 1,973.83 points, revealing a Year-to-Date loss of -3.84%.
The Ghana Stock Exchange remains a hub for investors, providing enticing prospects and a wide range of stocks that yield remarkable returns, all while displaying steadfast resilience in the midst of ongoing market difficulties.
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