Positive sentiments resurfaced on Tuesday, August 17, on the local bourse as top rally in consumer and telecommunication stocks drove positive performance that saw over GHc100 million in gains.
The benchmark index, as a result, inched up 1.91 points representing 0.07 percent following the rally in Unilever Ghana Ltd with 10 % share price appreciation.
Gains recorded on Tuesday were from strong buying interests witnessed in Unilever Ghana. Unilever closed its last trading day (Tuesday, August 17, 2021) at GHc3.53 per share on the Ghana Stock Exchange (GSE), recording a 10% gain over its previous closing price of GHc3.21.
Meanwhile, the bourse has, thus far, shown a more improved outlook in terms of activities. Trading activity level surged on Tuesday as volume and value traded increased 761 percent and 465 percent, respectively.
At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 5,623,223 shares, corresponding to a market value of GHc 7,130,144.43, were traded; compared with the previous GSE trading day (Monday, August 16) which recorded a total of 652,880 shares, corresponding to a market value of GHc1,262,077.13.
Sectoral Performance
Meanwhile, MTN Ghana led the chart of most traded securities by volume. MTN Ghana recorded the highest volume of 5.61 million traded shares, followed by GCB Bank with total traded shares totaling 3,040. Standard Chartered Bank (1,502) and Unilever Ghana (1,240) also followed in that order. However, In the aggregate, 14 GSE equities participated in trading.
Across the sectoral front, it was a mild bullish performance as the financial sector counter and oil & gas weekly indices rose marginally by 0.05 percent on the back of buying interests witnessed in GCB Bank Limited and Standard Chartered Bank.
Similarly, regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) inched up 1.91 (0.07%) points to close at 2,748.06 points. This represents a 1-week gain of 0.15 per cent and a 4-week gain of 3.77 percent.
Moreover, Unilever’s propped up positive performance on the local bourse also resulted in an improvement in the overall year to date gain of 41.54 percent while market capitalization also rose to GHc62.7 billion from GHc62.69 billion recorded on previous trading session.
Financial Index
However, the Ghana Stock Exchange Financial Stocks Index (GSE-FSI) maintained its value at 1,909.91 points, making it a 1-week gain of 0.05 per cent and a 4-week gain of 1.02 percent. In addition, the financial index also recorded improvement in its year to date. The GSE-FSI witnessed year-to-date gain of 7.13%.
Despite the positive gain recorded by listed equities on the GSE on Tuesday, market analysts said their expectations from the local bourse in this week’s final session will end in the bears, driven by weakened investors’ sentiment and profit-taking.
However, shareholders’ fears may be temporarily allayed by the over 700 per cent improvement on previous trading session.
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