The uptick in GCB share price drove both the Composite Index (GSE-CI) and Financial stocks index (GSE-FSI) into the green on the second outing of the week
The benchmark GSE Composite Index (GSE-CI) inched up by 1.27 points, representing 0.05 percent to close at 2,638.82 points. The rise led to a week-on-week gain of 4.23 percent. Unfortunately, it also led to a month-on-month loss of 3.08 percent, but an overall year-to-date gain of 7.98 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.14% to reach 1,677.48 points, leading to a 1-week gain of 0.1%, a 4-week loss of 2.49%, and a year-to-date loss of 18.27%.
The Lone Gainer
In all, 14 GSE listed equities participated in trading, ending with only one gainer, namely GCB Bank, with 1.59% share price appreciation. While 13 equities experienced a steady trading session with no gain or loss.
GCB closed its trading day (Tuesday, June 13, 2023) at GHS3.20 per share on the Ghana Stock Exchange (GSE), recording a 5 pesewa gain over its previous closing price of GHS3.15. GCB began the year with a share price of GHS3.94 but has since lost 18.8% off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance.
GCB Bank is the fourth most traded stock on the Ghana Stock Exchange over the past three months (Mar 13 – Jun 13, 2023). GCB has traded a total volume of 4.89 million shares valued at GHS 15.6 million over the period, with an average of 77,595 traded shares per session. A volume high of 2.07 million was achieved on May 9th for the same period.
GCB Bank Limited is currently the ninth most valuable stock on the GSE with a market capitalization of GHS 848 million, which makes about 1.26% of the Ghana Stock Exchange equity market.
At the end of Tuesday’s trading session on the Ghana Stock Exchange, a total of 1,049,119 shares, corresponding to a market value of GHS 3,340,865.91, were traded.
GCB Bank recorded the highest volume of 1.02 million traded shares on the day, constituting more than 98 percent of the total volume traded on the day. It was closely followed by Ecobank Transnational with 17,367 traded shares. The rest of the equities that made the list of top movers were Benso Oil Palm Plantation with 4,138 traded shares and MTN Ghana with 2,127 traded shares.
Meanwhile, the current market capitalization of the Ghana Stock Exchange is GHS 67.2 billion.
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