The Ghana Stock Exchange ended the day with another disappointing session as losses suffered by MTN Ghana and GCB Bank PLC pulled the indexes into the red zone while investors mull over the country’s economic impact on their investments.
The upward course of inflation, the rising oil prices, bond yields and the Central Bank interest rates, remain the main factors affecting the trading mood in the Ghana Stock Exchange (GSE). With no respite on any of these fronts, major stocks at GSE came under fresh pressure on Wednesday, February 2, and finished the day in the red, as the benchmark ended near the day’s low.
The Ghana Stock Exchange general index closed at 2,741.11 points, shedding 24.5 points from Tuesday’s 2,765.61 points. This represents a decline of 0.89 percent. On a weekly basis it shrank 1.45 percent. However, GSE composite index gained 0.38 percent on monthly basis, but an overall year-to-date loss of 1.73 percent.
Moreover, the GSE Financial Stocks Index (GSE-FSI) contracted by 0.09 percent, ending at 2,127.91 points. This resulted in a week on week loss of 1.21 percent, a further month on month loss of 1.21 percent and a year-to-date loss of 1.11 percent.
Losers
In total, eight GSE equities participated in trading, ending with disappointing two losers, namely, MTN Ghana (-1.8%) and GCB Bank (-0.76%). There were no gainers on the day.
MTN Ghana closed its trading day (Wednesday, February 2, 2022) at GH¢1.09 per share on the Ghana Stock Exchange, giving up GH¢0.02 (1.8%) from its previous closing price of GH¢1.11 after going for over 10 consecutive sessions trading flat.
MTNGH has traded a total volume of 84.5 million shares valued at GHS 97.2 million over the period, with an average of 1.34 million traded shares per session.
Similarly, GCB closed its trading day (Wednesday, February 2, 2022) at GH¢5.20 per share on the Ghana Stock Exchange (GSE). It pared 4 pesewas, representing a 0.76% drop from its previous closing price of GH¢5.24. GCB began the year with a share price of 5.24 GHS but has since lost 0.76 percent off that price valuation.
GCB Bank is the third most traded stock on the Ghana Stock Exchange over the past three months (Nov 1, 2021 – Feb 2, 2022). GCB has traded a total volume of 1.87 million shares valued at GHS 9.83 million over the period, with an average of 29,657 traded shares per session.
Total Traded Shares
Wednesday’s trading session ended with a total of 2,195,395 shares changing hands. This corresponds to a market value of GH¢ 2,548,055.10. Compared with the previous GSE trading day (Tuesday, February 1), Wednesday’s data showed 114% improvement in volume and 193% improvement in turnover.
Cal bank led the list of top movers. CAL Bank recorded the highest volume of 2 million traded shares, followed by GCB Bank (178,419), MTN Ghana (13,656) and Enterprise Group (800).
Amid the decline in the stock market, the current market capitalization of the Ghana Stock Exchange stands at GH¢ 63.3 billion.
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