The gaining spree of the Ghana Stock Exchange (GSE) has finally come to an end, with the benchmark index sinking in excess of 30 points as two blue chips bled at the end of the session.
The benchmark GSE Composite Index (GSE-CI) which is the weighted index comprising all listed ordinary shares with the exception of those of listed companies that have shares listed on other markets, declined by 37.63 points (-1.19%) to close at 3,135.30 points.
Wednesday’s loss led to a week-on-week loss of 0.98 percent. However, the index recorded a month-on-month gain of 2.67 percent, and an overall year-to-date gain of 28.29 percent.
The GSE-CI is regarded as the benchmark index of the Ghana stock market and guides investors as to the direction of the local bourse.
On the other hand, the GSE Financial Stocks Index (GSE-FSI), increased by 1.09% to reach 1,935.07 points, making it a 1-week gain of 2.99%, a 4-week gain of 10.26%, and a year-to-date loss of 5.73%.
The GSE-FSI is exactly like the GSE-CI but has as its constituents stocks from the financial sector, including those in the banking and insurance industries.
15 GSE Listed Equities Participate in Trading
In total, 15 GSE listed equities participated in trading, ending with only one gainer, namely Ecobank Ghana, with 9.94% share price appreciation. The two losers on the day were CAL Bank (-9.62%) and MTN Ghana (-2.78%).
It has been a fruitful week so far for Ecobank Ghana as it extended it’s gaining streak into Wednesday. Ecobank Ghana Limited (EGH) closed its trading day (Wednesday, October 4, 2023) at GHS5.20 per share on the Ghana Stock Exchange (GSE), recording GHS0.47gain over its previous closing price of GHS4.73.
Ecobank began the year with a share price of GHS6.64 but has since lost 21.7% off that price valuation, ranking it 33rd on the GSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 33% increase of EGH share price since September 5, which is third best on GSE.
CAL Bank Limited (CAL) on the other hand, closed its trading day at GHS0.47 per share on the local bourse, recording a 5 pesewa drop from its previous closing price of GHS0.52. However, it is worth to note that CAL began the year with a share price of GHS0.65 but has since lost 27.7% off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that CAL has lost 22% of the stock’s value from September 5 to date.
MTNGH closed its trading day (Wednesday, October 4, 2023) at 1.40 GHS per share on the Ghana Stock Exchange (GSE), recording 4 pesewas drop from its previous closing price of GHS1.44. MTN began the year with a share price of GHS0.88 and has since gained 59.1% on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance.
MTN Ghana is the most traded stock on the Ghana Stock Exchange over the past three months (Jul 6 – Oct 4, 2023). MTNGH has traded a total volume of 158 million shares valued at GHS 212 million over the period, with an average of 2.5 million traded shares per session. A volume high of 83.2 million was achieved on August 17, and a low of 226 on August 21, for the same period.
At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 1,191,457 shares, corresponding to a market value of GHS 2,517,246.05, were traded.
GCB Bank recorded the highest volume of 580,000 traded shares, followed by CAL Bank (493,347), MTN Ghana (93,858) and Ecobank Ghana (20,138).
The market capitalization of the Ghana Stock Exchange also followed suit and declined from GHS 74.3 billion to GHS 73.8 billion.