The reaction of Ghana Stock Exchange (GSE) to several days of decline, which had even put the benchmark’s grip on the 2,500-point mark at risk, finally arrived this week, with banks and other blue chips leading the recovery of prices at Ghana stock market.
The advance acceleration comes on the back of the announcement of Government of Ghana’s treasury yield cut last week. Meanwhile the main index added over 30 points to the previous day’s highs.
In all, 16 GSE listed equities participated in trading, ending with three gainers and no losers. Unilever Ghana led the gainers with 9.7% share price appreciation closing at GHS 3.28 per share, followed by Guinness Ghana Breweries (+9.49%) and MTN Ghana (+6.8%).
Unilever Ghana Limited which is the largest producer and retailer of consumer goods in Ghana closed its trading day (Tuesday, March 14, 2023) at GHS3.28 per share on the Ghana Stock Exchange, recording a GH0.29 gain over its previous closing price of GHS2.99.
Unilever began the year with a share price of GHS3.88 but has since lost 15.5% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 59% increase of UNIL share price since February 13, which is best on GSE.
Unilever Ghana is the 10th most traded stock on the Ghana Stock Exchange over the past three months (Dec 9, 2022 – Mar 14, 2023). UNIL has traded a total volume of 190,934 shares valued at GHS 457,801 over the period, with an average of 3,031 traded shares per session. A volume high of 68,086 was achieved on February 6, 2023 for the same period.
Guinness Ghana Breweries Limited (GGBL), a Ghanaian brewery based at the Kaasi Industrial Area in Kumasi, was the second gainer on the day. GGBL closed its trading day at GHS1.50 per share on the Ghana Stock Exchange (GSE), recording 13 pesewas gain over its previous closing price of GHS1.37. Guinness Ghana Breweries began the year with a share price of GHS2.05 but has since lost 26.8% off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance.
Guinness Ghana Breweries is the second most traded stock on the Ghana Stock Exchange over the past three months (Dec 9, 2022 – Mar 14, 2023). GGBL has traded a total volume of 6.17 million shares valued at GHS 9.91 million over the period, with an average of 97,930 traded shares per session. A volume high of 2 million was achieved on February 23, 2023 for the same period.
Investors Respond to MTN Ghana Financial Statement
The final gainer was MTN Ghana. Investors responded to MTN’s impressive 2022 performance statement released on Monday by trading bullish. MTNGH closed its trading day at GHS1.10 per share on the Ghana Stock Exchange (GSE), recording a 7 pesewa gain over its previous closing price of GHS1.03.
However, MTN began the year with a share price of GHS0.88 and has since gained 25% on that price valuation, ranking it third on the GSE in terms of year-to-date performance.
MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Dec 9, 2022 – Mar 14, 2023). MTNGH has traded a total volume of 29.1 million shares valued at GHS 26 million over the period, with an average of 462,565 traded shares per session. A volume high of 13.1 million was achieved on December 23, 2022 for the same period.
At the end of Tuesday’s trading session, a total of 2,117,073 shares, corresponding to a market value of GHS 3,215,060.95, were traded. Guinness Ghana Breweries recorded the highest volume of 2 million traded shares, followed by Ghana Oil Company (67,170), Unilever Ghana (26,640) and MTN Ghana (10,040).
The current market capitalization of the Ghana Stock Exchange is GHS 66.3 billion.
READ ALSO: Cedi At Risk Of Rapid Depreciation Without IMF Bailout – Joe Jackson
