On the first day of the week, the Ghana Stock Exchange (GSE) was afloat as there were no gainers Nor losers after the trading session while the activity level has declined considerably.

In the aggregate, six (6) GSE listed equities participated in trading. The market on Monday, August 23, 2022 was largely dominated by the banking sector stocks. The listed equities that participated in trading were Cal Bank Ghana PLC, MTN Ghana, Standard Chartered Bank PLC, GCB Bank PLC, Societe Generale Ghana PLC, and Benso Oil Palm Plantation.

Cal Bank Ghana PLC. Cal Bank opened and closed the session at the same share price at GHS0.76. MTN Ghana also closed the session the same it opened at GHS0.95. Similarly, the Standard Chartered Bank PLC also closed at GHS20.30. The rest were GCB Bank PLC (GHS 4.05), Societe Generale Ghana PLC (GHS 1.00), and Benso Oil Palm Plantation (GHS6.34).

Trading Activity Declines

At the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 17,994 shares, corresponding to a market value of GHS 19,438.81, were traded. Compared with the previous GSE trading day (Friday, August 19), Monday’s data showed 52 percent decline in volume.

CAL Bank recorded the highest volume of 15,167 traded shares. It was followed by MTN Ghana with 2,179 traded shares while Standard Chartered Bank also recorded 216 traded shares. GCB Bank PLC completed the list of top movers with 168 traded shares.

GSE Market Indices

Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,533.04, representing a 1-week loss of 0.59 percent, a 4-week gain of 3.79 percent, but an overall year-to-date loss of 9.19 percent .

In the similar vein, the GSE Financial Stocks Index (GSE-FSI) also maintained its value at 2,035.38 points, making it a 1-week loss of 1.33 percent, a 4-week loss of 3.79 percent, and a year-to-date loss of 5.41 percent.

The current market capitalization of the Ghana Stock Exchange is GHS 64.4 billion.

According to experts, the market may be winding up for greater increase due to a rise in bargain hunting stocks.