In a positive turn of events, the Ghana Stock Exchange (GSE) witnessed a strong bullish session with impressive gains, spearheaded by notable performances from Standard Chartered Bank, NewGold ETF, and TotalEnergies Marketing Ghana.
This bullish momentum helped drive both the GSE Market indices and GSE’s market capitalization upward. Overall, the trading session was marked by a sense of optimism as various stocks recorded price increases, contributing to the day’s positive market indicators.
Out of the 15 equities traded on the day, three emerged as top gainers with no recorded losses among the listed stocks. Standard Chartered Bank Limited (SCB) topped the gainers, with its share price appreciating by 4.07%, closing at GHS 23.00 per share.
This strong performance underscores investor confidence in the banking giant, which has continued to reinforce its position as one of Ghana’s leading financial institutions. SCB’s GHS 0.9 gain over its previous closing price of GHS 22.10 suggests heightened demand and optimism around the bank’s performance and long-term growth potential.
Following SCB, NewGold ETF (GLD) also registered gains, recording a 0.43% increase in its share price, closing at GHS 450.19. With a gain of GHS 1.93 over its previous closing price of GHS 448.26, NewGold ETF remains an attractive option for investors looking to hedge against market volatility.
TotalEnergies Marketing Ghana (TOTAL) closed out the list of gainers with a modest 0.23% increase, closing at GHS 12.85 per share. While this gain may seem modest, it nonetheless reflects a steady confidence in TotalEnergies as a staple in Ghana’s energy sector.
TOTAL’s share price increase of three pesewas over its previous price of GHS 12.82 signals ongoing investor faith in the company’s potential for growth amidst global shifts toward energy stability and sustainability.
On the trading day, MTN Ghana recorded the highest trading volume, with 16,451 shares exchanged. This was followed by NewGold ETF with 8,930 shares, GCB Bank with 3,384 shares, and TotalEnergies with 2,990 shares traded.
Altogether, a total of 37,276 shares changed hands, corresponding to a market value of GHS 4,167,185.50. However, this trading session saw a significant decrease in both trading volume and turnover compared to the previous day, with a 98% drop in volume and a 91% decline in turnover.
Despite these declines, the bullish performance in share prices and increased market capitalization reinforced the day’s trading outlook as positive. These movements suggest that while fewer shares were traded, investors prioritized quality over quantity, focusing on stocks with strong fundamentals and long-term growth potential.
Positive Impact on GSE Market Indices
The GSE’s positive trading session was also mirrored in its market indices. The benchmark GSE Composite Index (GSE-CI) rose by 10.04 points, or 0.23%, to close at 4,326.74.
This modest increase contributed to the index’s impressive year-to-date gain of 38.22%, underscoring the GSE’s strong overall performance this year.
While the GSE-CI recorded a 1-week loss of 0.96% and a 4-week loss of 1.11%, its year-to-date figure indicates robust investor confidence and resilience in the face of short-term fluctuations.
The GSE Financial Stocks Index (GSE-FSI) also performed well, increasing by 0.62% to close at 2,228.94 points. This gain marked a 1-week and 4-week gain of 0.62% and 1.37%, respectively, with a year-to-date gain of 17.22%. The increase in financial stocks aligns with Standard Chartered Bank’s strong showing, which reflects investor optimism toward Ghana’s financial sector.
In addition to gains in the indices, the GSE’s overall market capitalization rose significantly, reaching GHS 99 billion from the previous day’s GHS 98.9 billion.
The upward trend in market capitalization is a strong indicator of investor confidence, suggesting that Ghana’s capital market remains attractive to both local and foreign investors, despite global economic uncertainties.
The latest trading session on the GSE, led by Standard Chartered Bank, NewGold ETF, and TotalEnergies Marketing Ghana, reflects a bullish outlook that bodes well for the future of Ghana’s capital market.
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