On Tuesday, May 21, 2024, NewGold ETF (GLD) emerged as the sole gainer among the 11 listed equities participating in trading on the Ghana Stock Exchange (GSE).
GLD experienced a notable 1.54% increase in its share price, closing at GHS346.25 per share. This represents a GHS5.25 gain from its previous closing price of GHS341.00.
The NewGold ETF has demonstrated remarkable performance since the start of the year. Beginning 2024 with a share price of GHS218.50, the stock has surged by an impressive 58.5%, positioning it as the leading performer on the GSE in terms of year-to-date returns. Over the past four weeks alone, GLD has accrued a 9% gain, ranking it second on the GSE for short-term performance.
In terms of trading activity, NewGold ETF is one of the most actively traded stocks on the Ghana Stock Exchange. Over the past three months, from February 16 to May 21, 2024, GLD has seen a total trading volume of 439,432 shares, valued at GHS133 million. This translates to an average of 6,975 shares traded per session, with a peak trading volume of 97,566 shares on April 3.
NewGold ETF’s robust performance and active trading reflect strong investor confidence. With a total trading volume of 439,432 shares valued at GHS133 million over the past three months, GLD is the fifth most traded stock on the GSE.
Shareholders can remain optimistic given the stock’s consistent gains and solid market position. As GLD continues to outperform, it remains an attractive investment opportunity in the Ghanaian market.
The robust performance and high trading volume of NewGold ETF signal strong investor interest and confidence. Shareholders can take pride in the stock’s consistent gains and its solid position in the market. As GLD continues to outperform, it remains a standout choice for investors looking to capitalize on the strengths of the Ghanaian market.
Total volume of Shares
Overall, the trading session saw a total of 9,095,535 shares change hands, amounting to a market value of GHS19,540,646.50. MTN Ghana led the volume with 9.02 million traded shares, followed by Ecobank Transnational (45,573), SIC Insurance Company (11,406), and NewGold ETF (9,404).
The GSE Composite Index (GSE-CI), the benchmark index, remained unchanged at 3,744.97 points. Despite the lack of movement in the day’s session, the GSE-CI has recorded a 0.02% gain over the past week, a substantial 6.87% gain over the past four weeks, and an impressive 19.64% gain year-to-date.
The GSE Financial Stocks Index (GSE-FSI) also held steady at 2,038.44 points, marking a 0.07% gain for the week, a 0.3% loss over the past four weeks, and a 7.2% gain year-to-date.
As of the most recent update, the market capitalization of the Ghana Stock Exchange (GSE) is reported to be GHS 83.9 billion. Market capitalization, often referred to as market cap, represents the total market value of a company’s outstanding shares of stock. It Is calculated by multiplying the current share price by the total number of outstanding shares.
The GSE’s market cap reflects the aggregated valuation of all listed companies on the exchange. This figure is an important indicator of the size and health of the stock market, providing insights into investor confidence and the overall economic conditions within the country. It is also a useful metric for comparing the GSE with other stock exchanges globally.
This level of market capitalization signifies the exchange’s substantial role in the Ghanaian economy, highlighting the collective worth of the companies listed and their contribution to economic activity. The GSE serves as a platform for raising capital, offering investment opportunities, and facilitating liquidity and price discovery for securities.
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