It was yet another momentous outing for the local equities as the bullish run of the Ghana Stock Exchange continues unabated, leading to investors on the local bourse to enjoy every bit of the euphoria that accompanied the mid-week trading session’s rise.
At the close of the day, the bulls carried the day, leaving absolutely no chance for the bears to even come near the action. In all, 13 GSE listed equities participated in trading, ending with three gainers and no loser, while the remaining equities refused to take sides – trading flat in the process. Guinness Ghana Breweries led the gainers with 9.91% share price appreciation closing at GHS 2.55 per share, followed by Societe Generale Ghana (+8.96%) and TotalEnergies Marketing Ghana (+0.3%).
Guinness Ghana Breweries Limited (GGBL) added whopping 13 pesewas to its previous trading day’s shares, closing at GHS 2.55. Guinness Ghana Breweries began the year with a share price of GHS 2.05 and has since gained 24.4% on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance. With its latest performance, shareholders can be optimistic about GGBL knowing the stock has accrued 20% over the past four-week period alone—second best on GSE.
Guinness Ghana Breweries is the third most traded stock on the Ghana Stock Exchange over the past three months (Apr 27 – Jul 26, 2023). GGBL has traded a total volume of 9.23 million shares valued at GHS 16.6 million over the period, with an average of 146,525 traded shares per session. A volume high of 2.82 million was achieved on May 9th for the same period.
The List of Other Gainers
Societe Generale Ghana Limited (SOGEGH) also closed its trading day (Wednesday, July 26, 2023) at GHS 0.73 per share on the Ghana Stock Exchange, recording a 6 pesewa gain over its previous closing price of GHS 0.67. Societe Generale began the year with a share price of GHS1.00 but has since lost 27% off that price valuation, ranking it 35th on the GSE in terms of year-to-date performance.
However, shareholders’ fears may be allayed by the 24% increase in SOGEGH share price since June 27, which is best on GSE. Moreover, Societe Generale Ghana is the 10th most traded stock on the Ghana Stock Exchange over the past three months (Apr 27 – Jul 26, 2023). SOGEGH has traded a total volume of 329,693 shares valued at GHS 200,865 over the period, with an average of 5,233 traded shares per session.
Similarly, TotalEnergies Marketing Ghana (TOTAL) also enjoyed a sterling outing, joining the list of winners. TOTAL closed its trading at GHS 6.72 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewa gain over its previous closing price of GHS6.70. However, TotalEnergies began the year with a share price of GHS 4.00 and has since gained 68% on that price valuation, ranking it second on the GSE in terms of year-to-date performance.
Total Volume and Value Traded
At the end of Wednesday’s trading session on the Ghana Stock Exchange, a total of 1,575,392 shares, corresponding to a market value of GHS 4,030,201.38, were traded. Compared with the previous GSE trading day (Tuesday, July 25), Wednesday’s data showed 995% improvement in volume, indicating that it was all-round bullish performance on Wednesday.
Guinness Ghana Breweries recorded the highest volume of 1.54 million traded shares, followed by TotalEnergies Marketing Ghana (12,384), MTN Ghana (11,392) and Ecobank Transnational (8,345).
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) climbed 10.63 (0.36%) points to close at 2,932.35, representing a 1-week gain of 2.48%, a 4-week gain of 4.38%, and an overall year-to-date gain of 19.99%.
In the same vein, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.43% to reach 1,715.17 points, making it a 1-week gain of 1.75%, a 4-week gain of 1.22%, and a year-to-date loss of 16.44%.
Moreover, market capitalization of the Ghana Stock Exchange also rose to GHS 71.6 billion, indicating that investors are gradually restoring their lost confidence in the Ghana Stock Exchange back. It is expected that renewed faith in the GSE will continue up to the end of the week.
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