Market activity for the week gained 31.22 points to close at 2,545.48 points translating into a year-to-date (YTD) return of -8.99 percent.
However, the points gained was not enough to prevent weekly loss. The local bourse recorded a week on week loss of 0.27 percent and a month on month loss of 0.52 percent.
The GSE Financial Stock Index (GSE-FSI) on the other hand, loss 7.3 points to close the week at 2,163.03 points translating into a YTD return of 0.52 percent. It further led to a week on week loss of 0.64 percent and a month on month loss of 1.1 percent.
Twenty-three (23) equities traded over the week, ending with two (2) gainers and two (2) decliners. The 2 gainers were Access Bank PLC and MTN Ghana as they gained GH¢0.22 and GH¢0.03 to close at GH¢2.51 and GH¢0.90 respectively.
However, GOIL and GLD were the decliners as they lost GH¢0.01 and GH¢2.00 to close at GH¢1.81 and GH¢143.00 respectively.
Market capitalization which is the total value of all a company’s shares of stock and calculated by multiplying the price of a stock by its total number of outstanding shares increased by GH¢3,197.34 million to close the trading week at GH¢64.84 billion.
A total of 5.82 million shares valued at GH¢6.56 million traded during the week. Compared with the previous trading week, last week’s data showed a 31.34 percent decline in volume traded and 27.52 percent decline in trade turnover.
Scancom PLC (MTNGH) recorded lion’s share of trades as it recorded the most volumes and accounted for 98.89 percent of the total value traded.
Trading on the Final Day of the Week Declines
At the end of the final weekday of trading on the Ghana Stock Exchange (GSE), a total of 377,639 shares, corresponding to a market value of GHS 176,018.78, were traded. Compared with the previous GSE trading day (Thursday, July 7), Friday’s data showed 66 percent decline in volume and 83 percent decline in turnover.
In the aggregate, 11 GSE listed equities participated in trading. There were no gainers nor losers on the final day of the week.
SIC Insurance Company recorded the highest volume of 300,000 traded shares. This was followed by MTN Ghana with 29,678 traded shares. Produce Buying Company followed in that order with 20,000 traded shares, while Ghana Oil Company completed the list of top movers with 12,228 shares traded.
Going into the week, experts tipped the local bourse to experience an improved level of activity due to increase in demand stocks.
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