The Ghana stock market continued on its upward march for another session on Thursday, displaying consistency and resilience to both external and internal pressures once again, building on the previous performances.
The benchmark remained within touching distance of the psychologically 2,500 points for after the index gained yet again some points- albeit marginally.
On the day, the benchmark GSE Composite Index (GSE-CI) inched up 0.19 (0.01%) points to close at 2,463.27 points, representing a week-on-week gain of 0.02 percent, a month-to-month gain of 0.12 percent, but an overall year-to-date loss of 11.69 percent.
On the similar path was the GSE Financial Stocks Index (GSE-FSI). The financial sector index also increased by 0.02 percent to reach 2,076.84 points, making it a 1-week gain of 0.12 percent, a 4-week gain of 0.34 percent, and a year-to-date loss of 3.49 percent.
Meanwhile, November started drawing to a close with significant window-dressing profits for those who choose to close their books for the year. In all, 10 GSE listed equities participated in trading, ending with only one gainer, namely Trust Bank Gambia, with 2.7% share price appreciation and also one loser, namely SIC Insurance Company (-3.13%).
Trust Bank Gambia Limited (TBL) continued it’s 10 day consecutive winning streak on the penultimate day of the week as it closed its trading day (Thursday, November 24, 2022) at GHS0.76 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewa gain over its previous closing price of GHS0.74.
However, Trust Bank Gambia began the year with a share price of GHS0.34 and has since gained 124% on that price valuation, ranking it third on the GSE in terms of year-to-date performance. The 10 days gaining streak means that shareholders can be optimistic about TBL knowing the stock has accrued 38% over the past four-week period alone- best on GSE.
Trust Bank Gambia is the 16th most traded stock on the Ghana Stock Exchange over the past three months (Aug 29 – Nov 24, 2022). TBL has traded a total volume of 82,600 shares valued at GHS 48,177 over the period, with an average of 1,311 traded shares per session. A volume high of 60,000 was achieved on October 25, for the same period.
SIC Insurance Company PLC Loses
On the losing side was SIC Insurance Company PLC. After weeks of trading flat, the insurance company finally took a jump but unfortunately landed in red. SIC closed its trading day (Thursday, November 24, 2022) at GHS0.31 per share on the local bourse, recording a pesewa drop from its previous closing price of GHS0.32.
That notwithstanding, SIC began the year with a share price of GHS0.08 and has since gained 288% on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
In the intervening time, the session ended with a total of 137,902 traded shares, corresponding to a market value of GHS 117,633.14. MTN Ghana recorded the highest volume of 128,096 traded shares, followed by SIC Insurance Company (6,278), Trust Bank Gambia (3,230) and CAL Bank (100).
The current market capitalization of the Ghana Stock Exchange is GHS 64.8 billion.