The Ghana Stock Exchange (GSE) has recently experienced a day of mixed trading results, culminating in a slight overall loss for the market.
The GSE Composite Index, a key indicator of market performance, ended the trading session on August 8, 2024, with a decline of more than 12 points, reflecting the fluctuating nature of the day’s trading activities.
Out of the 15 equities listed on the GSE that participated in the trading session, only one showed a positive price movement, while another saw a decline.
NewGold ETF emerged as the sole gainer, recording a 0.71% appreciation in its share price. Conversely, MTN Ghana was the only equity to experience a drop in value, losing 0.43% by the end of the day.
NewGold ETF, trading under the symbol GLD, closed the day at GHS367.80 per share. This marked a GHS2.60 gain over its previous closing price of GHS365.20.
The ETF has demonstrated a remarkable performance throughout the year, starting 2024 with a share price of GHS218.50 and achieving a year-to-date gain of 68.3%. This strong performance places NewGold ETF third among the top performers on the GSE for the year.
Over the past three months, NewGold ETF has maintained a steady presence in the market. Between May 10 and August 8, 2024, it traded a total volume of 152,044 shares, valued at GHS 53.9 million. This translates to an average of 2,413 shares traded per session, making it the 12th most traded stock on the GSE during this period.
MTN Ghana, trading under the symbol MTNGH, saw a slight decline in its share price, closing at GHS2.29, down by one pesewa from its previous closing price of GHS2.30.
Despite this minor setback, MTN Ghana has had a strong year, beginning 2024 with a share price of GHS1.40. Since then, the stock has gained 63.6%, making it the fourth-best performer on the GSE in terms of year-to-date gains.
Investors in MTN Ghana can find some solace in the stock’s recent performance, as it has accrued a 20% gain over the past four weeks, the highest on the GSE during that time frame.
Additionally, MTN Ghana has been the most actively traded stock on the GSE over the past three months, with a total volume of 321 million shares traded, valued at GHS 506 million. On average, 5.09 million MTN Ghana shares have changed hands per session during this period.
Market Activity and Indices Performance
The trading session on August 8, 2024, saw a total of 194,768 shares traded across the GSE, with a combined market value of GHS 10,235,437.02. This represents a significant increase in trading activity compared to the previous day, with a 242% improvement in volume.
MTN Ghana led the market in terms of trading volume, with 109,032 shares exchanged. Following MTN Ghana were NewGold ETF, which traded 26,970 shares; CalBank, with 16,029 shares; and SIC Insurance Company, with 14,353 shares traded.
Meanwhile, the GSE Composite Index (GSE-CI), which tracks the performance of all listed stocks on the GSE, shed 12.14 points, representing a 0.27% decline, to close at 4,440.74.
Despite this one-day loss, the GSE-CI has seen a 4-week gain of 12.23% and a significant year-to-date gain of 41.87%. However, the index also recorded a 1-week loss of 1.18%, highlighting the volatility in the market.
In contrast, the GSE Financial Stocks Index (GSE-FSI), which tracks the performance of financial sector stocks, remained unchanged at 2,115.52 points. This index has shown resilience, posting a 1-week gain of 0.65%, a 4-week gain of 1.29%, and a year-to-date gain of 11.25%.
Despite the day’s loss, the strong year-to-date performances of both NewGold ETF and MTN Ghana highlighted the potential for growth within the market. As trading activities continue, investors will be watching closely for further developments and opportunities on the GSE.
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