The Ghana Stock Exchange (GSE) is gradually gaining traction as it continues its gaining streak for 3rd consecutive trading sessions. However, level of market activity was lower than previously.
At the end of the trading session on the Ghana Stock Exchange, a total of 186,297 shares, corresponding to a market value of GHS 243,386.58, were traded. Compared with the previous GSE trading day (Monday, June 19), the data showed a total of 88% decline in volume.
Scancom PLC (MTNGH) dominated both trading by volume and value charts, trading a significant volume of 117,275 shares valued at GH¢145,421.00. This transaction alone accounted for an impressive 59.75% of the total value traded, underscoring the prominence of MTNGH in the market.
Fan Milk PLC. (FML) also demonstrated a noteworthy performance, trading 28,286 shares valued at GH¢37,337.52, representing 15.34% of the total value traded. CAL Bank (25,093) and Clydestone Ghana (5,899) completed the list of top movers.
In all, 18 GSE listed equities participated in trading, ending with two gainers and no losers. The two gainers were CAL Bank (+5.36%) and NewGold ETF (+0.63%).
Cal Bank Limited (CAL) closed its trading day at GHS0.59 per share on the Ghana Stock Exchange (GSE), recording 3 pesewas gain over its previous closing price of GHS0.56. CAL began the year with a share price of GHS0.65 but has since lost 9.23% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 18% increase of CAL share price since May 23, which is fourth best on GSE.
The second and final gainer on the day was NewGold ETF (GLD). GLD closed its trading day at GHS222.40 per share on the local bourse, recording a GHS1.40 gain over its previous closing price of GHS221.00. NewGold ETF began the year with a share price of GHS217.80 and has since gained 2.11% on that price valuation, ranking it seventh on the GSE in terms of year-to-date performance.
Key Indices Record Gains
The gains recorded by GSE enabled the indices to also move forward. The benchmark GSE-Composite Index showed a modest increase of 1.80 points to close at 2,712.69 points after trading on Tuesday. This incremental rise reflects a noteworthy 11.00% year-to-date (YTD) return, suggesting a promising trend for the Ghanaian equity market. This represents a 1-week gain of 2.8% and a 4-week gain of 7.02%.
Similarly, the GSE Financial Stocks Index which has been stagnant for some time also experienced a marginal upswing, climbing by 3.27 points to close at 1,694.29 points. However, the index’s YTD return remained negative at -17.46%, indicating some challenges faced by financial stocks throughout the year. The result led to week-on-week gain of 1% and a month-on-month gain of 0.51%.
Market Capitalization, a key indicator of a stock market’s overall worth, witnessed an encouraging jump during the trading session. Closing at GH¢68.02 billion, the market capitalization demonstrated a notable increase, suggesting that market participants are allocating more capital to the Ghanaian equity market.
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