The Ghana Stock Exchange (GSE) has recorded a roller-coaster performance on the final day of trading session as the market traded mix.
At the end of the session on Friday August 11, 2023, the equity market took a disappointing step back as the decline in the share prices of EGH, ACCESS, and MTNGH outweighed the gains from FML and SCB stocks.
In all, 17 GSE listed equities participated in trading, ending with two gainers and three losers. The two gainers were Fan Milk (+3.03%) and Standard Chartered Bank (+0.37%). On the losing side, Ecobank Ghana came out last with an end-of-day price depreciation of 9.26% at GHS 4.90 per share, followed by Access Bank Ghana (-8.54%) and MTN Ghana (-1.96%).
FML closed its trading day (Friday, August 11, 2023) at GHS1.36 per share on the Ghana Stock Exchange, recording 4 pesewas gain over its previous closing price of GHS1.32. However, Fan Milk began the year with a share price of GHS3.00 but has since lost 54.7% off that price valuation, ranking it 38th on the GSE in terms of year-to-date performance.
The second gainer was Standard Chartered Bank Limited (SCB). SCB also closed its trading day at GHS13.55 per share on the Ghana Stock Exchange (GSE), recording a 5 pesewas gain over its previous closing price of GHS13.50. Standard Chartered began the year with a share price of GHS20.16 but has since lost 32.8% off that price valuation, ranking it 36th on the GSE in terms of year-to-date performance.
The Three Laggards
Ecobank Ghana Limited (EGH) lost heavily to end a tough week in defeat for its shareholders. It closed its trading day at GHS4.90 per share on the local bourse, recording a 50 pesewa drop from its previous closing price of GHS5.40. Ecobank began the year with a share price of GHS6.64 but has since lost 26.2% off that price valuation, ranking it 35th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that EGH has lost 9% of the stock’s value from July 13 to date.
Access Bank was also on the losing end, closing at GHS3.00 per share on the Ghana Stock Exchange (GSE), recording 28 pesewas drop from its previous closing price of GHS3.28.
The Telco giant MTNGH completed the losers list. It closed its trading day at GHS1.50 per share on the Ghana Stock Exchange, recording a 3 pesewa drop from its previous closing price of GHS1.53. That notwithstanding, MTN began the year with a share price of GHS0.88 and has since gained 70.5% on that price valuation, ranking it second on the GSE in terms of year-to-date performance. Shareholders can be optimistic about MTNGH knowing the stock has accrued 10% over the past four-week period—third best on GSE.
Both the Composite Index (GSE-CI) and the Financial Stocks Index (GSE-FSI) moved lower, recording losses of 54.79 points (-1.76%) and 35.27 points (-2.04%), respectively. The Composite Index settled at 3,050.73 points, reflecting a year-to-date return of 24.83%. Similarly, the Financial Stocks Index closed at 1,693.11 points, marking a 17.51% year-to-date loss.
At the end of the final weekday of trading on the Ghana Stock Exchange (GSE), a total of 1,065,830 shares, corresponding to a market value of GHS 1,755,975.11, were traded.
MTN Ghana recorded the highest volume of 964,994 traded shares, followed by Access Bank Ghana (50,000), GCB Bank (26,912) and CAL Bank (10,414).
Meanwhile, the current market capitalization of the Ghana Stock Exchange stands at GHS 72.9 billion.
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