It was a bloody day for the Ghana Stock Exchange (GSE) as bears resurfaced on the domestic bourse on Tuesday, 24th January, 2023 with major ripples in the bourse’s still waters.
This was largely triggered by sell-offs in bellwethers which dragged the overall market performance on Tuesday into the red territory.
Out of the 12 GSE listed equities that participated in trading, the session ended disappointingly with four blue chip stock losers with no gainers while 8 traded flat. Unilever Ghana lost the most value on the day with 9.47% share price depreciation, followed by NewGold ETF (-2.37%), CAL Bank (-1.72%) and Ghana Oil Company (-0.58%).
Losers on the Day
Unilever Ghana Limited (UNIL) closed its trading day (Tuesday, January 24, 2023) at GHS2.58 per share on the Ghana Stock Exchange (GSE), recording a 27 pesewa drop from its previous closing price of GHS2.85. it is worth noting that Unilever began the year which is barely a month with a share price of GHS3.88 but has since lost 33.5% off that price valuation, ranking it 38th on the GSE in terms of year-to-date performance.
Unilever Ghana is the 22nd most traded stock on the Ghana Stock Exchange over the past three months dating as far back from last year (Oct 21, 2022 – Jan 24, 2023). UNIL has traded a total volume of 13,004 shares valued at GHS 44,732 over the period, with an average of 206 traded shares per session. A volume high of 2,849 was achieved on January 19, 2023 for the same period.
Unilever Ghana Limited is currently the 21st most valuable stock on the GSE with a market capitalization of GHS 161 million, which makes about 0.25% of the Ghana Stock Exchange equity market.
The second loser on the day was NewGold ETF (GLD). GLD closed its trading day at GHS240.90 per share on the Accra bourse, recording a GHS5.85 drop from its previous closing price of GHS246.75. However, NewGold ETF began the year with a share price of GHS217.80 and has since gained 10.6% on that price valuation, ranking it first on the GSE in terms of year-to-date performance. Shareholders can be optimistic about GLD knowing the stock has accrued 30% over the past four-week period alone, which is best on GSE.
NewGold ETF is currently the 11th most valuable stock on the GSE with a market capitalization of GHS 699 million, which makes about 1.08% of the Ghana Stock Exchange equity market.
Similarly, CAL Bank Limited (CAL) also closed its trading day at GHS0.57 per share on the Ghana Stock Exchange (GSE), recording a pesewa drop from its previous closing price of GHS0.58.
CAL began the year with a share price of GHS0.65 but has since lost 12.3% off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance.
CAL Bank is the sixth most traded stock on the Ghana Stock Exchange over the past three months (Oct 21, 2022 – Jan 24, 2023). CAL has traded a total volume of 511,871 shares valued at GHS 329,452 over the period, with an average of 8,125 traded shares per session. A volume high of 137,027 was achieved on January 11, 2023 for the same period.
Ghana Oil Company Limited (GOIL) completed the list of losers with one pesewa share price depreciation. GOIL closed its trading day at GHS1.70 per share on the Ghana Stock Exchange, from its previous closing price of GHS1.71. Ghana Oil began the year with a share price of GHS1.72 but has since lost 1.16% off that price valuation, ranking it 36th on the GSE in terms of year-to-date performance.
Despite the oil company’s abysmal performance, Ghana Oil Company is the second most traded stock on the Ghana Stock Exchange over the past three months (Oct 21, 2022 – Jan 24, 2023). GOIL has traded a total volume of 1.91 million shares valued at GHS 3.29 million over the period, with an average of 30,345 traded shares per session.
Market Indices
The bearish outing pushed the GSE Composite Index (GSE-CI) marginally downward by 2.60 points to peg at 2,431.84 points, and pushed the market year to date loss to stand at -0.28 percent, while market capitalisation wilted to GHS 64.5 billion from GHS64.6 biillion in the previous session.
On an eventful day with particularly low turnover, the banks index also headed southward. The GSE Financial Stocks Index (GSE-FSI) decreased by 0.05% to settle at 2,043.89 points.
Despite the drag from the heavyweights, the level of trading activity was mixed as the total volume traded declined to 55,356 shares while the traded value skyrocketed to GHS 1,975,665.36 as investors were busily taking profits.
Leading the order for the most traded stocks by volume on Tuesday were MTN Ghana with the highest volume of 27,150 traded shares, followed by CAL Bank (12,200), NewGold ETF (7,992) and Ghana Oil Company (4,010).
READ ALSO: UENR, KIC Sign MoU To Augment Youth Participation In Agriculture
