Bank blue chips kept the main index of Ghana Stock Exchange (GSE) in positive territory on Tuesday, November 30, 2021, after a session that ended with rising stocks of Ecobank Transnational Incorporated (ETI), thereby maintaining a narrow lead over major stocks that remained in the flat line base.
The Ghana stock market’s reaction on Tuesday to recent week’s steep decline was too feeble to pique investor interest, and it was only in the closing sessions that a marginal decline was averted, with the intervention of the bourse’s biggest stock gainer in a week – Ecobank Transnational Incorporated with 12.5 share price appreciation.
Ecobank Transnational Incorporated closed its trading day (Tuesday, November 30, 2021) at GHS0.09 per share on the Ghana Stock Exchange (GSE), recording a GHS0.01 gain over its previous closing price of GHS0.08. However, Ecobank began the year with a share price of GHS0.08 and has since gained 12.5 percent on that price valuation, ranking it 13th on the GSE in terms of year-to-date performance.
Ecobank Transnational is the seventh most traded stock on the Ghana Stock Exchange over the past three months spanning from September 2 to November 30, 2021. During that period, ETI has traded a total volume of 785,276 shares valued at GHS 65,235 with an average of 12,465 traded shares per session. A volume high of 222,486 was achieved on November 30, for the same period.
Benchmark Index Performance
As a result of the imposing performance by ETI, the benchmark GSE Composite Index (GSE-CI) climbed up by 7.19 points (0.25%) to close at 2,866.76 points, ending it’s three sessions of decline. This further led to a weekly gain of 0.23 percent and a monthly gain of 0.03 percent, with an overall year-to-date gain of 47.65 percent.
The financial sector counter also saw an improvement at the end of Tuesday’s trading session. The GSE Financial Stocks Index (GSE-FSI) jumped by 0.63 percent to reach 2,091.38 points, making it a 1-week gain of 0.63 percent, a 4-week gain of 0.44 percent, and a year-to-date gain of 17.31 percent.
At the end of Tuesday’s trading session on the Ghana Stock Exchange, a total of 1,110,668 shares, corresponding to a market value of GHS 1,106,620.63, were traded. This represents more than 100 percent improvement on the previous day’s trading session.
Market Capitalization
The market capitalization of the Ghana Stock Exchange rose by GHS200 million to settle at GHS 64.4 billion. Previously, it stood at GHS 64.2 billion.
In total, 15 GSE equities participated in trading, ending with only one gainer, namely Ecobank Transnational Incorporated. The other major stocks such as MTN Ghana, Cal Bank, Societe Generale Ghana, Fan Milk Limited, among others traded flat.
MTN Ghana recorded the highest volume of 868,940 traded shares. This was followed by Ecobank Transnational Incorporated with total share transactions of 222,486. CAL Bank Ghana and Fan Milk Ghana Limited recorded total traded shares volume of 11,879 shares and 5,447 shares respectively.
The partial recovery of the Ghana stock market on Tuesday should help GSE post a more credible rebound on Wednesday.
