The Ghana Stock Market witnessed a yo-yoing rally on Tuesday, March 15, 2021 which caused the general benchmark index to slip away by more than 15 points.
After scaling to new highs for two straight sessions, the Ghanaian equity indices plunged on Tuesday with the benchmark falling by 0.56 percent from Monday’s 2754.37 points recorded amid weak cues from global markets.
The Ghana Stock Exchange Composite Index (GSE-CI) closed at 2,738.95 points shedding 15.42 points. This was after MTN Ghana stocks moved southward on the Ghana Stock Exchange (GSE). However, the decline in index led to a week on week gain of 0.3 percent and a month on month gain of 0.31 percent, but an overall year-to-date loss of 1.81 percent.
The GSE Financial Stocks Index (GSE-FSI), on the other hand, increased by 0.61 percent to reach 2,167.87 points, making it a 1-week gain of 2.39 percent, a 4-week gain of 2.37 percent, and a further year-to-date gain of 0.74 percent. Meanwhile, the gain in the financial index can be attributed to the gains made by the financial sector stocks.
Gainers and Losers on the Ghana Stock Exchange
At the end of trading on the local bourse, blue chips painted a mixed picture, and turnover remained well below previous level. In total, 21 GSE listed equities participated in trading, ending with two gainers and just one loser. The two gainers were Ecobank Transnational Incorporated (ETI)(+6.25%) and Guinness Ghana Breweries (GGBL)(+1.35%). The only equity that lost value on the day was MTN Ghana (-1.85%).
ETI closed its trading day (Tuesday, March 15, 2022) at GHS0.17 per share on the Ghana Stock Exchange (GSE), recording a one pesewa gain over its previous closing price of GHS0.16.
In the same vein, GGBL also closed its trading day at GHS2.25 per share on the Ghana Stock Exchange (GSE), recording a GHS0.03 gain over its previous closing price of GHS2.22.
Nevertheless, MTN Ghana ended its trading session at GHS1.06 per share on the Ghana Stock Exchange (GSE), recording a GHS0.02 drop from its previous closing price of GGHS1.08.
Market Leaders in Volume of Shares Traded
At the end of Tuesday’s trading session on the Accra bourse, a total of 2,916,265 shares, corresponding to a market value of GHS 3,906,295.48, changed hands. Compared with the previous GSE trading day (Monday, March 14), Tuesday’s data showed 47 percent improvement in volume but 7 percent decline in turnover.
Despite losing on the day, MTN Ghana recorded the highest volume of 1.3 million traded shares. This was followed by CAL Bank with 507,267 traded shares. Guinness Ghana Breweries followed in that order with 386,840 traded shares, while Ecobank Transnational completed the list of top movers with 376,729 traded shares.
However, the market capitalization of the Ghana Stock Exchange did not change as it remained at GHS 64 billion.