The Ghana Stock Exchange (GSE) has recorded a mix performance on the first day of the week with GCB Bank emerging the only loser on the day as the level of activity declined considerably with more than 80 percent.
In the aggregate, 15 GSE listed equities participated in trading, ending with only one gainer, namely Fan Milk, with 5.52% share price appreciation and also one loser, namely GCB Bank (-0.85%).
The mixed performance witnessed by the local bourse had GCB Bank scratching its knees. GCB Bank closed its trading day at GHS3.50 per share on the Ghana Stock Exchange, recording a 3 pesewa drop from its previous closing price of GHS3.53. GCB began the year with a share price of GHS3.94 but has since lost 11.2% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance.
GCB Bank is the eighth most traded stock on the Ghana Stock Exchange over the past three months (Jun 20 – Sep 18, 2023). GCB has traded a total volume of 599,680 shares valued at GHS 2.09 million over the period, with an average of 9,519 traded shares per session. A volume high of 252,898 was achieved on August 18 for the same period.
The Lone Gainer on the Day
Fan Milk Plc (FML) closed its trading day at GHS3.06 per share on the Ghana Stock Exchange (GSE), recording GH0.18 gain over its previous closing price of GHS2.88.
However, Fan Milk began the year with a share price of GHS3.00 and has since gained 2% on that price valuation, ranking it eighth on the GSE in terms of year-to-date performance. Shareholders can be optimistic about FML knowing the stock has accrued an outstanding 125% over the past four-week period alone—best on GSE.
Fan Milk is the 12th most traded stock on the Ghana Stock Exchange over the past three months (Jun 20 – Sep 18, 2023). FML has traded a total volume of 134,155 shares valued at GHS 247,029 over the period, with an average of 2,129 traded shares per session. A volume high of 28,286 was achieved on June 20 for the same period.
At the end of the first weekday of trading on the Ghana Stock Exchange, a total of 77,765 shares, corresponding to a market value of GHS 152,766.71, were traded. Compared with the previous GSE trading day (Friday, September 15), Monday’s data showed 87% decline in volume.
MTN Ghana recorded the highest volume of 38,573 traded shares, followed by Fan Milk (12,196), GCB Bank (10,505) and Ecobank Transnational (5,450).
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) inched up 0.98 (0.03%) points to close at 3,159.77 points, representing a 1-week gain of 2.08%, a 4-week gain of 3.2%, and an overall year-to-date gain of 29.29%.
The GSE Financial Stocks Index (GSE-FSI), on the other hand, decreased by 0.07% to 1,864.70 points, making it a 1-week gain of 4.71%, a 4-week gain of 11.14%, and a year-to-date loss of 9.15%.
Meanwhile, Monday’s performance showed that investors have taken a step back, culminating to reduced activity level in the market.