The Ghana Stock Exchange saw a busy week that recorded mixed results, with the GSE Composite Index (GSE-CI) and Financial Index ending the week in opposite directions.
At the end of the second week of the month of March, the GSE-Composite Index rose by 9.41 percent, while the GSE-Financial Stocks Index fell by 1.57 percent.
These developments caused the year-to-date performance of the GSE-Composite Index also rise to 11.00%, while the year-to-date GSE-Financial Stocks Index on the other hand experienced a decline of -9.61%.
During the week, a total of 25 equities traded on the Ghana Stock Exchange, with several companies recording gains while the others recorded losses.
NewGold ETF (GLD), Benso Oil Palm Plantation (BOPP), Unilever Ghana (UNIL), TotalEnergies (TOTAL), MTN Ghana (MTNGH), and Guinness Ghana Breweries Limited (GGBL) all saw increases in value, with GLD experiencing gains of GH¢15.60, BOPP gaining GH¢0.96, UNIL rising by GH¢0.61, TOTAL increasing by GH¢0.31, MTNGH up by GH¢0.20, and GGBL seeing an increase of GH¢0.13. However, SOGEGH experienced a decline in value, losing GH¢0.24 over the course of the week.
In terms of trade volume and turnover, a total of 4,321,668.00 shares were traded during the week, amounting to a total value of GH¢7,342,586.43. This represents a 27.96% increase in volume traded compared to the previous week, as well as a 110.53% rise in trade turnover. Notably, GGBL was the most traded stock during the week, representing 40.85% of the total traded value.
Performance on the Final Day
Though the week was characterized by advancement in the composite index and other key indicators. The final day of the week, Friday was particularly discouraging as the local bourse recorded its worst performance of the week under review.
With regards to the GSE market indices, the benchmark GSE Composite Index (GSE-CI) pared 4.75 (-0.17%) points to close at 2,712.75 points.
The GSE Financial Stocks Index (GSE-FSI) also decreased by 0.46 percent to 1,855.33 points, making it a 1-week loss of 1.57 percent, a 4-week loss of 6.46 percent.
At the end of the final weekday of trading on the Ghana Stock Exchange (GSE), a total of 112,554 shares, corresponding to a market value of GHS 1,400,142.62, were traded. Compared with the previous GSE trading day (Thursday, March 16), Friday’s data showed 44% decline in turnover.
The session ended with nine GSE listed equities participating in trading, ending with only one gainer, namely NewGold ETF, with 3.53% share price appreciation and also one loser, namely Societe Generale Ghana (-9.59%).
Notwithstanding Friday’s results, the overall performance of the Ghana Stock Exchange during the week was somewhat mixed, with some notable stocks seeing gains while others experienced declines. According to experts, the rise in trade volume and turnover for the week may suggest increased investor interest in the market, though it remains to be seen whether this trend will continue in the weeks to come.
Looking ahead, there are a number of factors that may impact the performance of the Ghana Stock Exchange in the coming weeks and months. These may include broader macroeconomic conditions in Ghana and globally, as well as company-specific developments such as earnings announcements and other news.
However, experts predict the new week to continue in the same trajectory of last week and even with advancement in financial sector stocks which underperformed last week.
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