The Ghana stock market showed unusual resilience on Tuesday in the face of a downward flow by most other African bourses, and posted some decent gains for most blue chips, with the financial sector counter index and the energy sector stocks leading the charge.

In total, 13 Ghana Stock Exchange (GSE) equities participated in trading, ending with three gainers and just one loser. Total Petroleum Ghana led the gainers with 9.96 percent share price appreciation. TOTAL closed its trading day (Tuesday, November 9, 2021) at GHS5.52 per share on the Ghana Stock Exchange (GSE), recording a 9.96 percent gain over its previous closing price of GHS5.02. Total Petroleum began the year 2021 with a share price of GHS2.83 and has managed to gain a cumulative share price appreciation of 95.1 percent.

This was followed by CAL Bank with share price appreciation of 1.25 percent. CAL bank also closed its trading day at GHS0.81 per share on the Ghana Stock Exchange (GSE), recording a 1.3 percent gain over its previous closing price of GHS0.80.

Enterprise Group (EGL) completed the gainers list. EGL closed its trading day at GHS2.53 per share on the Ghana Stock Exchange (GSE), recording a marginal gain of 0.4 percent over its previous closing price of GHS2.52. Enterprise Group began the year with a share price of GHS1.40 and has since gained 80.7 percent on that price valuation, ranking it seventh on the GSE in terms of year-to-date performance.

However, the equity that lost value on the day was MTN Ghana (-2.31%). The recent volatility of MTN stocks on the GSE was in full swing on Tuesday’s trading session, as it was the only laggard on Tuesday. MTNGH closed its trading day (Tuesday, November 9, 2021) at GHS1.27 per share on the Ghana Stock Exchange (GSE), recording a 2.3 percent drop from its previous closing price of GHS1.30. Interestingly, the telecommunication giant is one of the biggest performer on the local bourse. It began the year with a share price of GHS0.64 and has since gained 98.4 percent on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.

Benchmark Index

The gains chalked at the start of the week, Monday, November 8, for the benchmark Index have been reversed by the end of the week’s second session, although the overall market picture was mixed and the financial index posted an increase.

The benchmark GSE Composite Index (GSE-CI) dropped by 29.12 points, representing 0.98 percentage lost to close at 2,938.89 points. Nonetheless, this led to a 1-week gain of 2.54 percent and a month on month gain of 2.95 percent, and an overall year-to-date gain of 51.37 percent.

Conversely, the GSE Financial Stocks Index (GSE-FSI), on the other hand, made a marginal leap of 0.07 percent to close at 2,082.63 points. This led to a 1-week gain of 0.02 percent, a 4-week gain of 0.98 percent, and a year-to-date gain of 16.82 percent.

Trading Activity Declines

At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 1,103,792 shares, corresponding to a market value of GHS 1,562,889.18, were traded. Compared with the previous GSE trading day (Monday, November 8), Tuesday’s data show 26 percent decline in volume and 20 percent decline in turnover.

MTN Ghana recorded the highest volume of 898,280 traded shares, followed by CAL Bank (137,021), GCB Bank (50,500) and Enterprise Group (9,775).

The current market capitalization of the Ghana Stock Exchange is GHS 65 billion.