The Ghana stock market immediately rebounded on Tuesday after Monday’s independence day celebration. Meanwhile, Tuesday’s swift recovery came after previous Week’s sharp decline.
The Accra bourse recovered more than half of all of those losses and proved that the growth momentum is nowhere near over yet. The return of buyers meant that while the day’s turnover was slightly reduced, the main index ended on the day’s high at the closing auctions.
The benchmark GSE Composite Index (GSE-CI) closed at 2,392.18 points, adding 5.36 points to Friday’s closing points. This represents an increase of 0.22 percent. However, the gain in index did not prevent the general index from losing week-on-week and month-on-month. The performance led to a week-on-week loss of 1.43 percent, a month-on-month loss of 0.55 percent, and an overall year-to-date loss of 2.12 percent.
Despite the increase in the composite index, the GSE Financial Stocks Index (GSE-FSI) on the other hand maintained its value at 1,885.95 points, making it a week-on-week loss of 4.92 percent, a 4-week loss of 5.98 percent, and a year-to-date loss of 8.12 percent.
In the aggregate, 18 GSE listed equities participated in trading, ending with only one gainer, namely TotalEnergies Marketing Ghana, with 10% share price appreciation.
TotalEnergies Marketing Ghana (TOTAL) closed its trading day (Tuesday, March 7, 2023) at GHS5.50 per share on the Ghana Stock Exchange (GSE), recording GHS0.50 gain over its previous closing price of GHS5.00. TotalEnergies began the year with a share price of GHS4.00 and has since gained 37.5% on that price valuation, ranking it first on the GSE in terms of year-to-date performance. Given the recent performances, shareholders can be optimistic about TOTAL knowing the stock has accrued 35% over the past four-week period alone — second best on GSE.
TotalEnergies Marketing Ghana is the ninth most traded stock on the Ghana Stock Exchange over the past three months (Dec 1, 2022 – Mar 7, 2023). TOTAL has traded a total volume of 325,046 shares valued at GHS 1.31 million over the period, with an average of 5,159 traded shares per session. A volume high of 229,575 was achieved on December 23, 2023 for the same period.
TotalEnergies Marketing Ghana Plc is the Ghanaian subsidiary of the global TotalEnergies Group which is the fourth largest publicly-traded integrated international Oil & Gas company in the world with presence in over 130 countries.
TotalEnergies Marketing Ghana is currently the 14th most valuable stock on the GSE with a market capitalization of GHS 615 million, which makes about 0.96% of the Ghana Stock Exchange equity market.
Volume and Turnover Declines
At the end of Tuesday’s trading session on the Ghana Stock Exchange, a total of 32,982 shares, corresponding to a market value of GHS 43,787.94, were traded. Compared with the previous GSE trading day (Friday, March 3), Tuesday’s data showed 41 percent decline in volume and 52 percent decline in turnover.
Unsurprisingly, MTN Ghana recorded the highest volume of 13,334 traded shares, followed by CAL Bank (13,182), TotalEnergies Marketing Ghana (2,000) and Cocoa Processing Company (1,610).
The current market capitalization of the Ghana Stock Exchange is GHS 64.1 billion. It indicates an increase of GHS100 million from the previous capitalization of GHS 64 billion.
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