Gains from MTN Ghana and Total Lift the Local Bourse

The local bourse made a progress on the first day of the week, thanks to the great performance from two major stocks from the telecommunication sector and the oil and gas sector.

At the end of the trading session, 18 GSE listed equities participated in trading, ending with two gainers and no losers. The two gainers were MTN Ghana (+2.27%) and TotalEnergies Marketing Ghana (+0.48%).

Investors of MTN Ghana brushed aside the impasse between the Telco giant and the Ghana Revenue Authority (GRA) and thronged the market to lap up quality stocks.

MTN Ghana closed its trading day (Monday, February 13, 2023) at GHS0.90 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewas gain over its previous closing price of GHS0.88. Monday’s gain was the blue chip stock’s first of the year. MTN began the year with a share price of GHS0.88 and has since gained 2.27% on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.

MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Nov 10, 2022 – Feb 13, 2023). MTNGH has traded a total volume of 29.4 million shares valued at GHS 25.8 million over the period, with an average of 466,532 traded shares per session. A volume high of 13.1 million was achieved on December 23,2022 and a low of 100 on January 10, for the same period.

MTN Ghana is currently the third most valuable stock on the GSE with a market capitalization of GHS 11.1 billion, which is about 17.2 percent of the entire Ghana Stock Exchange equity market.

TotalEnergies Marketing Ghana Makes Gains

The second gainer on the day was TotalEnergies Marketing Ghana (TOTAL). TOTAL also closed its trading day (Monday, February 13, 2023) at GHS4.15 per share on the Ghana Stock Exchange, recording 2 pesewas gain over its previous closing price of GHS4.13.

TotalEnergies began the year with a share price of GHS4.00 and has since gained 3.75 percent on that price valuation, ranking it third on the GSE in terms of year-to-date performance.

TotalEnergies Marketing Ghana is the eighth most traded stock on the Ghana Stock Exchange over the past three months (Nov 10, 2022 – Feb 13, 2023). TOTAL has traded a total volume of 394,763 shares valued at GHS 1.58 million over the period, with an average of 6,266 traded shares per session. A volume high of 229,575 was achieved on December 23, 2022 for the same period.

TotalEnergies Marketing Ghana is currently the 16th most valuable stock on the GSE with a market capitalization of GHS 464 million, which makes about 0.722% of the Ghana Stock Exchange equity market.

At the end of the first weekday of trading on the Ghana Stock Exchange, a total of 28,378 shares, corresponding to a market value of GHS 30,918.25, were traded.

Again, MTN Ghana recorded the highest volume of 21,828 traded shares, followed by CAL Bank (4,703), TotalEnergies Marketing Ghana (1,500) and Standard Chartered Bank (94).

The performance on Monday moved the GSE market indices up. The benchmark GSE Composite Index (GSE-CI) increased by 23.77 (0.99%) points to close at 2,414.20 points, representing a 1-week gain of 0.37%, a 4-week loss of 1.01%, and an overall year-to-date loss of 1.22%.

The GSE Financial Stocks Index (GSE-FSI), however, maintained its value at 1,983.82 points, making it a 1-week loss of 1.1%, a 4-week loss of 3.09%, and a year-to-date loss of 3.35%.

The current market capitalization of the Ghana Stock Exchange is GHS 64.4 billion.

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