The local bourse was at its best on Monday, June 19, 2023 with bulls running the show while the Ghana Stock Exchange benchmark Indices increased substantially.
In the aggregate, 17 GSE listed equities participated in trading, ending with three gainers and no losers. The rest recorded steady performances. Guinness Ghana Breweries led the gainers with 9.84% share price appreciation closing at GHS 2.12 per share, followed by MTN Ghana (+4.2%) and Fan Milk (+0.76%).
Guinness Ghana Breweries Limited (GGBL) was the stock that recorded the highest movement on the day. GGBL closed its trading day (Monday, June 19, 2023) at GHS2.12 per share on the Ghana Stock Exchange (GSE), recording a 19 pesewas gain over its previous closing price of GHS1.93. Guinness Ghana Breweries began the year with a share price of GHS2.05 and has since gained 3.41% on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance. Shareholders can be optimistic about GGBL knowing the stock has accrued 28% over the past four-week period alone – second best on GSE.
Guinness Ghana Breweries is the second most traded stock on the Ghana Stock Exchange over the past three months (Mar 17 – Jun 19, 2023). GGBL has traded a total volume of 7.52 million shares valued at GHS 12.2 million over the period, with an average of 119,316 traded shares per session. A volume high of 2.82 million was achieved on May 9, for the same period.
MTN Ghana was the second highest gainer. MTNGH ended the day at GHS1.24 per share, recording a 5 pesewas gain over its previous closing price of GHS1.19. MTN began the year with a share price of GHS0.88 and has since gained 40.9% on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance. Shareholders can also be optimistic about MTNGH knowing the stock has accrued 10% over the past four-week period — fifth best on GSE.
MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Mar 17 – Jun 19, 2023). MTNGH has traded a total volume of 188 million shares valued at GHS 177 million over the period, with an average of 2.98 million traded shares per session.
Fan Milk Plc (FML) completed the gainers list recording a pesewa gain over its previous closing price of GHS1.31. However, Fan Milk began the year with a share price of GHS3.00 but has since lost 56% off that price valuation, ranking it 38th on the GSE in terms of year-to-date performance.
Benchmark GSE Composite Index
Meanwhile, the boom in performance led to the benchmark GSE Composite Index (GSE-CI) uptick. The GSE-CI soared 64.60 (2.44%) points to close at 2,710.89 points, representing a 1-week gain of 2.78%, a 4-week gain of 5.93%, and an overall year-to-date gain of 10.92%.
The GSE Financial Stocks Index (GSE-FSI), however, maintained its value at 1,691.02 points, making it a 1-week gain of 0.95%, a 4-week gain of 0.21%, and a year-to-date loss of 17.62%.
At the end of the first weekday of trading, a total of 1,589,075 shares, corresponding to a market value of GHS 3,234,774.00, were traded. Compared with the previous GSE trading day (Friday, June 16), Monday’s data showed 377% improvement in turnover.
Guinness Ghana Breweries recorded the highest volume of 1.45 million traded shares, followed by MTN Ghana (102,771), Fan Milk (20,498) and Intravenous Infusions (12,000).
Moreover, the market capitalization jumped by GHS300 million, indicating some form of validation by market participants. The market capitalization of the Ghana Stock Exchange closed at GHS 68 billion at the end of the session.
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