In the Ghana Stock Exchange’s penultimate trading session of the week, CAL Bank emerged as the standout performer, showcasing robust activity in the market.
On Thursday, CAL Bank exchanged an impressive 47,606 shares, firmly establishing its dominance over other listed companies. In contrast, Dannex Ayrton Starwin Plc (DASPHARMA) stumbled, exchanging only 10,000 shares.
The trading day witnessed heightened activity, with RBGH, FML, and CAL being among the top five most traded stocks. Despite this activity, there was a significant decline in both the volume and value of shares traded. A total of 82,562 shares were transacted, marking a notable 97.07% decline, with a corresponding 92.95% decrease in value across nineteen stocks.
Among the notable movements in share prices, Fan Milk Company Limited (FML) saw a gain of GH¢0.05, while DASPHARMA experienced a downturn, shedding GH¢0.04 to close at GH¢3.30 and GH¢0.36 respectively.
FML closed the trading day at GHS3.30 per share, recording a 1.5% gain over its previous closing price of GHS3.25. This performance positions FML as the sixth-best performer on the GSE in terms of year-to-date performance, having gained 1.54% since the beginning of the year.
Fan Milk, the parent company of FML, has also demonstrated significant activity on the stock exchange. Ranking as the ninth most traded stock over the past three months, Fan Milk has traded a total volume of 191,783 shares valued at GHS 587,342. Despite fluctuations in trading volume, Fan Milk has maintained an average of 3,044 traded shares per session, with a volume high of 83,004 achieved on December 14.
In contrast, DASPHARMA closed its trading day with a 10% drop from its previous closing price of GHS0.40, closing at GHS0.36 per share. This decline reflects a challenging period for the company, which began the year with a share price of GHS0.40 but has since lost 10% of its value, ranking it 37th on the GSE in terms of year-to-date performance.
DASPHARMA’s performance over the past three months further underscores its challenges, ranking as the 21st most traded stock on the GSE. With a total volume of 13,967 shares traded, valued at GHS 5,119, DASPHARMA has faced volatility, averaging 222 traded shares per session. However, the company experienced a volume high of 10,000 shares on February 8, indicating fluctuations in investor sentiment.
Market Capitalization Experiences a Slight Uptick
As market activities unfolded, market capitalization experienced a slight uptick, edging marginally higher to GH¢74,507.85 billion. This increment underscores the stability and potential growth within the Ghanaian stock market.
Simultaneously, the benchmark index, the GSE-Composite Index, showcased resilience, advancing by 0.22 points to conclude Wednesday’s session at 3,177.76 points. This performance reflects a year-to-date return of 1.52%, indicating steady progress and positive investor sentiment within the market.
However, amid this overall growth, the GSE Financial Stocks Index remained stagnant at 1,910.16 points. While other sectors demonstrated upward momentum, the financial sector’s performance suggests a period of consolidation or stability within financial stocks.
The movements within the indices highlight the diverse dynamics at play in the Ghanaian stock market, with investors closely monitoring sector-specific performances and overall market trends to inform their investment decisions.
While CAL Bank and FML demonstrated strength and leadership in Thursday’s trading session, DASPHARMA faced challenges, reflecting the diverse dynamics at play in the Ghanaian stock market. Investors will continue to monitor these companies closely as the week comes to a close.