Some major stocks in the Ghana stock market bounced back on Tuesday, May 17, 2022, after the previous day’s decline.

On a day of narrow trading at the Ghana Stock Exchange (GSE), the benchmark at the local bourse secured minor gains on Tuesday, with banks, telecommunication, and energy stocks playing the leading role in the growth of blue chips and their index, which resulted in the benchmark recovering some losses.

At the end of the session, eight (8) GSE-listed equities participated in trading, ending with three gainers and no losers. Cal Bank led the gainers with 3.45 percent share price appreciation closing at GH¢ 0.90 per share, recording 3 pesewas gain over its previous closing price of GHS0.87. Meanwhile, CAL began the year with a share price of GHS0.87 and has since gained 3.45 percent on that price valuation, ranking it eighth on the GSE in terms of year-to-date performance.

Another gainer on the day was MTN Ghana (+2.22%). MTN Ghana stock prices finally made a healthy recovery after weeks of uncertainty and consecutive losses.

MTNGH closed its trading day (Tuesday, May 17, 2022) at GHS0.92 per share on the Ghana Stock Exchange (GSE), recording a 2 pesewa gain over its previous closing price of GHS0.90. MTN, meanwhile, began the year with a share price of GHS1.11 but has since lost 17.1 percent off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance.

However, MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Feb 11 – May 17, 2022). MTNGH has traded a total volume of 946 million shares valued at GHS 908 million over the period, with an average of 15 million traded shares per session.

In the energy and petroleum sector, Total Petroleum Ghana (TOTAL) also witnessed a stock appreciation of (+0.25%).

TOTAL closed its trading day (Tuesday, May 17, 2022) at GHS4.06 per share on the Ghana Stock Exchange (GSE), recording a 1 pesewa gain over its previous closing price of GHS4.05. It is worth knowing that Total Petroleum began the year with a share price of GHS5.02 but has since lost 19.1 percent off that price valuation.

Composite Index Marginally Goes Up

In the intervening time, the gains by the blue chips resulted in the marginal expansion in the composite index. The benchmark GSE Composite Index (GSE-CI) moved up by 25.39 (0.99%) points to close at 2,587.41 points. This represents a week-on-week loss of 3.66%, a month-on-month loss of 4.08%, and an overall year-to-date loss of 7.24%.

In a similar vein, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.15% to reach 2,209.92 points, making it a 1-week gain of 0.03%, a 4-week loss of 0.49%, and a year-to-date gain of 2.7%.

Trading Activity Declines

At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 153,994 shares, corresponding to a market value of GHS 137,347.15, were traded. Compared with the previous GSE trading day (Monday, May 16), Tuesday’s data showed a 52% decline in volume and a further 54% decline in turnover.

On the top movers, SIC Insurance Company recorded the highest volume of 66,358 traded shares, followed by CAL Bank (60,443), Total Petroleum Ghana (13,600), and Aluworks (6,524).

The market ended with a market capitalization of GHS 62.8 billion.