Cal Bank shares plummeted more than 3 percent on Thursday, May 26, 2022, dragging down both composite index and financial index with it.

Ghanaian stock market main indexes fell on Thursday, with the benchmark index leading the slump; as negative sentiments still persist added to the nerves of the inflation-struck economy.

The local bourse ended the trading session with total of 10 GSE listed equities participating in trading. The session ended with one loser, namely CAL Bank, with 3.33 percent share price depreciation. However, the other 9 equities that took part in trade ended without a gain or a loss.

Cal Bank closed its trading day (Thursday, May 26, 2022) at GHS0.87 per share on the Ghana Stock Exchange (GSE), recording 3 pesewas drop from its previous closing price of GHS0.90.

Cal Bank is the third most traded stock on the Ghana Stock Exchange over the past three months (Feb 22 – May 26, 2022). Cal Bank has traded a total volume of 6.44 million shares valued at GHS 5.51 million over the period, with an average of 102,276 traded shares per session. A volume high of 1.77 million was achieved on March 4 for the same period.

Other major stocks share prices at the end of the trading day are: MTN Ghana maintained its GHC0.90 share price; Ghana Oil Company also ended with GH¢1.82 share price; Fan Milk Ghana with GH¢3.00 and Societe Generale Ghana PLC with GH¢1.19 share price.

Benchmark Index Declines

The benchmark at Ghana Stock Exchange failed to attain the 2,560-point mark at the end of Thursday’s session, due to the decline in Cal bank stocks.

Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) marginally pared 1.79 (-0.07%) points to close at 2,555.05, representing a 1-week loss of 0.36 percent, a 4-week loss of 5.34 percent, and an overall year-to-date loss of 8.4 percent.

Similarly, the GSE Financial Stocks Index (GSE-FSI) also decreased by 0.15 percent to settle at 2,193.03 points, making it a 1-week loss of 0.79 percent, a 4-week loss of 1.39 percent, and a year-to-date gain of 1.91 percent.

At the end of Thursday’s trading session on the Ghana Stock Exchange (GSE), a total of 25,094 shares, corresponding to a market value of GHS 52,279.02, were traded. Compared with the previous GSE trading day (Wednesday, May 25), Thursday’s data showed 66 percent decline in volume but 57 percent improvement in turnover.

On the list of top movers, MTN Ghana recorded the highest volume of 5,079 traded shares. This was followed by Total Petroleum Ghana with 3,898 traded shares. CAL Bank managed to secure 3,798 traded shares, with Cocoa Processing Company securing 3,000 traded shares.

Meanwhile, the market capitalization failed to move an inch. The market capitalization of the Ghana Stock Exchange remains at GHS 62.3 billion.