• About
  • Advertise
  • Privacy Policy
  • Contact
Saturday, July 5, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Mid-Week Bullish Momentum Drives GSE Market Capitalization to New Highs

October 24, 2024
Stephen M.Cby Stephen M.C
in Securities/Markets
0
Mid-Week Bullish Momentum Drives GSE Market Capitalization to New Highs

The Ghana Stock Exchange (GSE) witnessed a stellar performance in its mid-week trading session, with bulls dominating the day and pushing market capitalization to new heights.

Investors were treated to a surprising and impressive display, as the market saw gains across multiple equities. By the end of the trading session, the GSE’s total market capitalization surged by GHS300 million, climbing to an impressive GHS 99.5 billion.

This bullish trend marked a significant shift for the GSE, which had experienced relatively quiet trading sessions in previous weeks. The strong performance of listed equities, particularly Fan Milk Plc, Ecobank Transnational Incorporated (ETI), NewGold ETF, and TotalEnergies Marketing Ghana, contributed to this surge in market capitalization. Meanwhile, only one equity, Atlantic Lithium Ltd, recorded a marginal decline, showcasing the overall strength of the market.

RelatedPosts

Ghana Stock Exchange Shatters Records with Over GHS1 Billion Trading in a Single Day

SEC Exposes News GH and Ghana News Over Unlicensed Investment Scams

GSE Indices Dip Marginally Amid Sharp Decline in Trading Activity

Bullish Performance and Key Gainers

Fan Milk Plc (FML) emerged as the star of the trading session, recording a 5.71% increase in its share price, closing the day at GHS 3.70 per share. This marked a 20-pesewa gain from its previous closing price of GHS 3.50.

The significant rise in Fan Milk’s stock value was one of the key contributors to the overall market growth. The dairy and beverage giant’s performance reflects growing investor confidence in the company, driven by expectations of continued revenue growth in Ghana’s expanding food and beverage sector.

Ecobank Transnational Incorporated (ETI) was another major gainer in the session, registering a 5.56% increase to close at GHS 0.19 per share, up from GHS 0.18.

Although the 1-pesewa gain might seem modest, it represents a steady recovery for the financial institution, which has been navigating a challenging operating environment marked by fluctuating financial markets across the continent. ETI’s gain demonstrates renewed optimism about the bank’s prospects in the face of Ghana’s broader economic recovery.

The NewGold Exchange-Traded Fund (ETF), which tracks the price of gold, also saw a significant rise in value, increasing by 1.35% to close at GHS 432.00 per share, up from GHS 426.23. The ETF’s performance reflects investor interest in gold as a safe-haven asset amid global economic uncertainties.

This increase in the price of gold on the GSE mirrors the global trend, as investors hedge against inflationary pressures and currency volatility.

TotalEnergies Marketing Ghana (TOTAL) also joined the list of gainers, posting a modest 0.32% rise in its share price to close at GHS 12.70, up from GHS 12.66. The energy company’s gain was supported by stable oil prices and improved operational efficiency, reinforcing investor confidence in its long-term outlook.

The Lone Loser: Atlantic Lithium

While most equities saw gains, Atlantic Lithium Ltd (ALLGH) was the only equity that recorded a loss during the session. Its share price dropped by a mere 0.16%, closing at GHS 6.14, down from GHS 6.15. Despite this slight decline, the loss was marginal and did little to dampen the overall bullish sentiment on the market.

The bullish momentum also reflected in the GSE’s benchmark indices. The GSE Composite Index (GSE-CI), which tracks the performance of all listed companies, inched up by 8.29 points, representing a 0.19% gain to close at 4,368.80 points.

This marks a 1-week gain of 0.49%, though the index has seen a 4-week loss of 0.86%. However, on a year-to-date basis, the GSE-CI has posted an impressive gain of 39.57%, highlighting the market’s overall positive trajectory in 2024.

Similarly, the GSE Financial Stocks Index (GSE-FSI), which focuses on the performance of financial institutions, also saw an increase of 0.39%, closing at 2,215.22 points. The GSE-FSI recorded a 1-week gain of 0.54%, a 4-week gain of 0.69%, and a year-to-date gain of 16.49%. The index’s performance reflects renewed investor confidence in Ghana’s financial sector as the country continues to navigate post-pandemic economic recovery efforts.

Despite the strong gains in market capitalization, trading volume on the day was relatively subdued. A total of 159,038 shares, worth GHS 412,420.63, were traded during the session.

This marked a significant decline in both volume and turnover compared to the previous day’s trading activity. Specifically, the market experienced a 63% drop in volume and a 76% decline in turnover compared to the trading session on October 22.

Among the most actively traded equities, CalBank recorded the highest volume of traded shares, with 109,113 shares changing hands. Fan Milk followed with 23,020 shares, while MTN Ghana and TotalEnergies Marketing Ghana saw 17,032 and 2,170 shares traded, respectively.

As the year progresses, investors will be keenly watching whether the GSE can maintain its bullish momentum, with market fundamentals suggesting a promising outlook for the rest of 2024.

READ ALSO: Ghanaian Media Urged to Pay More Attention to Artists Residing Abroad

Tags: Atlantic Lithium (ALL)Ghana Stock Exchange (GSE)IndicesMarket CapitalisationNewGold ETFTotalEnergies
Please login to join discussion
Previous Post

U.S Points To Russia’s Manpower Problems

Next Post

Barker-Vormawor Challenges Supreme Court’s Exclusive Constitutional Interpretation Power

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable
Extractives/Energy

Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable

July 4, 2025
HE President John Dramani Mahama
General News

Mahama Launches “No Fee Stress” Policy to Expand Access to Tertiary Education

July 4, 2025
Corbyn And Sultana Plan New Left Party
UK

Corbyn And Sultana Plan New Left Party

July 4, 2025
Ukrainian President, Volodymyr Zelenskyy and US President, Donald Trump have a heated exchange.
Europe

Trump, Zelenskyy Agree To Strengthen Ukraine’s Air Defences

July 4, 2025
President John Mahama on peace after election
General News

Mahama Calls for Action on Peace Amid Ghana’s Global Decline 

July 4, 2025
Association of Ghana Industries (AGI), Seth Twum-Akwaboah
Vaultz Business

Business and Investor Confidence Rebounding in Ghana – AGI

July 4, 2025
Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable
Extractives/Energy

Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable

by Prince AgyapongJuly 4, 2025
HE President John Dramani Mahama
General News

Mahama Launches “No Fee Stress” Policy to Expand Access to Tertiary Education

by Evans Junior OwuJuly 4, 2025
Corbyn And Sultana Plan New Left Party
UK

Corbyn And Sultana Plan New Left Party

by Lawrence AnkutseJuly 4, 2025
Ukrainian President, Volodymyr Zelenskyy and US President, Donald Trump have a heated exchange.
Europe

Trump, Zelenskyy Agree To Strengthen Ukraine’s Air Defences

by Comfort AmpomaaJuly 4, 2025
President John Mahama on peace after election
General News

Mahama Calls for Action on Peace Amid Ghana’s Global Decline 

by Lilian AhedorJuly 4, 2025
Association of Ghana Industries (AGI), Seth Twum-Akwaboah
Vaultz Business

Business and Investor Confidence Rebounding in Ghana – AGI

by Stephen M.CJuly 4, 2025
Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable
HE President John Dramani Mahama
Corbyn And Sultana Plan New Left Party
Ukrainian President, Volodymyr Zelenskyy and US President, Donald Trump have a heated exchange.
President John Mahama on peace after election
Association of Ghana Industries (AGI), Seth Twum-Akwaboah
[/vc_row_inner]

Recent News

  • Ghana Declares Eban-Akoma Oil Discoveries Commercially Viable
  • Mahama Launches “No Fee Stress” Policy to Expand Access to Tertiary Education
  • Corbyn And Sultana Plan New Left Party
  • Trump, Zelenskyy Agree To Strengthen Ukraine’s Air Defences
  • Mahama Calls for Action on Peace Amid Ghana’s Global Decline 
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.