Amidst a backdrop of adversity, the Ghana Stock Exchange (GSE) witnessed a trading session marred by setbacks, with most equities struggling to maintain their footing. However, amidst this sea of challenges, one standout performer shone through – NewGold ETF (GLD).

Out of the 14 GSE listed equities that participated in Thursday’s trading, NewGold ETF emerged as the sole gainer, boasting a 0.58% share price appreciation. This achievement is particularly noteworthy given the overall subdued performance of the exchange.

Closing at GHS 307.76 per share on Thursday, April 4, 2024, NewGold ETF experienced a significant gain of GHS 1.78 over its previous closing price of GHS 305.98. Since the beginning of the year, NewGold ETF has demonstrated impressive growth, starting at GHS 218.50 per share and appreciating by 40.9%. This places it as the second-best performer on the GSE in terms of year-to-date performance.

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Shareholders of NewGold ETF have reason to be optimistic, considering the stock’s remarkable 17% increase over the past four weeks, making it the top performer on the GSE during this period.

Reflecting its prominence in the market, NewGold ETF ranks as the eighth most traded stock on the Ghana Stock Exchange over the past three months (January 3 – April 4, 2024).

With a total volume of 269,730 shares traded, valued at GHS 79.2 million during this period, NewGold ETF has maintained an average of 4,281 traded shares per session. Notably, the stock reached a volume high of 97,566 shares on April 3, underscoring its robust trading activity and investor interest.

The performance of NewGold ETF amidst a challenging trading environment highlights its resilience and attractiveness to investors seeking stability and growth opportunities. As the Ghana Stock Exchange navigates through fluctuations and uncertainties, NewGold ETF stands as a beacon of strength, offering investors a promising avenue for investment and growth.

Declining Volume and Turnover

At the close of the trading session on the Ghana Stock Exchange (GSE), a total of 72,309 shares were traded, corresponding to a market value of GHS 7,235,367.20.

However, compared to the previous trading day (Wednesday, April 3), today’s data reflects a significant decline in both volume and turnover, with a 52% decrease in volume and a 76% decrease in turnover.

Despite this downturn, the current market capitalization of the Ghana Stock Exchange stands at an impressive GHS 77.9 billion.

NewGold ETF emerged as the most traded stock, recording a volume of 23,070 traded shares. It was followed by MTN Ghana with 18,260 shares, Ecobank Ghana with 15,000 shares, and Clydestone Ghana with 11,424 shares.

Turning to the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) remained unchanged, closing at 3,464.13 points. This indicates a 1-week loss of 0.35%, a 4-week gain of 4.9%, and an overall year-to-date gain of 10.67%.

Meanwhile, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 2,014.81 points, marking a 1-week gain of 1.06%, a 4-week gain of 0.91%, and a year-to-date gain of 5.96%.

Despite the decline in trading volume and turnover, the stability of the GSE-CI and the positive performance of the GSE-FSI reflect a resilient market amidst fluctuating conditions.

Meanwhile, NewGold ETF continues to demonstrate its prominence, providing a reliable option in Ghana’s dynamic stock market landscape.