Thursday’s trading session was an eventful yet an entertaining day at the Accra bourse. The local bourse slumped heavily in the early hours of the trading session, with index declining by over 15% – the fastest in about a month with many market watchers watching with baited breath.
However, towards the mid-session, buyers returned in full force boosted by the news of individual bondholders confirming payment of their coupons. Suddenly, the aggressive buying returned as the benchmark re-emerged from the day’s lows to close with gains towards the end of the day.
In all, nine GSE listed equities took part in trading, ending in the mix with two gainers and just one loser.
Among the notable gainers on the trading day were Scancom PLC. (MTNGH), which gained GH¢0.04 and Total Energies Marketing Ghana PLC. (TOTAL), which gained GH¢0.31 to close at GH¢1.20 and GH¢6.36 per share, respectively. Meanwhile, Societe Generale Ghana PLC. (SOGEGH) was the lone decliner, losing GH¢0.08 to close at GH¢0.73.
The trading day saw a total of 1,951,413 shares valued at GH¢2,495,874.40 traded across nine (9) counters, with the total volume traded increasing by 1346.25% and the total value traded also increasing by 1130.24% compared to the previous trading session.
MTN Leads Volume of Transactions
Notably, transactions in Scancom PLC. (MTNGH) topped the trading chart with 1,914,765 shares valued at GH¢2,296,063.00, representing a noteworthy 92.00% of total value traded. This was followed by Total Energies Marketing Ghana Plc. (TOTAL), trading 30,032 shares valued at GH¢190,976.80, representing 7.65% of total value traded. The rest of the first five tickers on the trading day were Societe Generale Ghana (4,000) and CAL Bank (1,961).
The benchmark GSE-Composite Index, meanwhile, gained 44.99 points to close at 2,717.50 points, representing a noteworthy 11.20% year-to-date (YTD) change. Moreover, in the week-on-week basis, it gained 12.26 percent, and gained 12.75 percent on the month-on-month basis.
However, the GSE Financial Stocks Index was not so fortunate, losing 9.84 points to close at 1,863.95 points, representing a YTD return of -9.19%.
In terms of market capitalization, it rose by a significant GH¢469.57 million to end the trading day at GH¢67.50 billion, which represents a YTD change of 4.63%.
According to some analysts, Thursday’s mix performance and the losses seen in the GSE Financial Stocks Index demonstrate that there is still some degree of uncertainty in the market.
Going forward, many market watchers and investors will be monitoring keenly with analysts predicting the local bourse to end the trading week on a good note.
READ ALSO: Gold Fields, Anglo Gold Rule Out Merger After Ghana Joint-Venture Deal
