The Ghanaian Equity Market was unimpressive during Thursday’s trading session, driven by a slump in the share prices of Access Bank Ghana (ACCESS).
In total, 12 GSE listed equities participated in trading, ending with one loser, namely Access Bank Ghana, with 2.7% share price depreciation. No gainer was recorded while 11 other equities traded flat.
ACCESS closed its trading day (Thursday, July 6, 2023) at GHS3.60 per share on the Ghana Stock Exchange (GSE), recording GHS0.10 drop from its previous closing price of GHS3.70.
However, Access began the year with a share price of GHS4.01 but has since lost 10.2% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.
Access Bank Ghana is the 18th most traded stock on the Ghana Stock Exchange over the past three months (Apr 4 – Jul 6, 2023). ACCESS has traded a total volume of 35,962 shares valued at GHS 138,162 over the period, with an average of 571 traded shares per session. A volume high of 10,013 was achieved on June 29, 2023 for the same period.
Access Bank Ghana is currently the 14th most valuable stock on the GSE with a market capitalization of GHS 626 million, which is about 0.89% of the Ghana Stock Exchange equity market.
Volume and Turnover Go Down
The decline of Access has affected the market sentiment leading to both volume and value of transactions to plummet. At the end of Thursday’s trading session on the Ghana Stock Exchange, a total of 14,540 shares, corresponding to a market value of GHS 30,394.49, were traded. Compared with the previous GSE trading day (Wednesday, July 5), Thursday’s data showed 83% decline in volume and 72% decline in turnover.
MTN Ghana recorded the highest volume of 7,815 traded shares, followed by Access Bank Ghana (5,021), SIC Insurance Company (671) and Ecobank Transnational (511).
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) pared 1.60 (-0.06%) points to close at 2,820.22 points, representing a 1-week gain of 0.48%, a 4-week gain of 6.93%, and an overall year-to-date gain of 15.4%.
The GSE Financial Stocks Index (GSE-FSI) also decreased by 0.18 percent to 1,688.33 points, making it a 1-week loss of 0.06%, a 4-week gain of 0.78%, and a year-to-date loss of 17.75%.
The current market capitalization of the Ghana Stock Exchange stands at GHS 70.4 billion.
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