The Ghanaian equities market closed mildly negative on Tuesday, October 26, after recording bullish outing in the previous trading session.
Just as was recorded at the opening of the week, the level of trading activities as measured by volume and value traded were mixed as the total volume declined by 79 percent.
At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 270,832 shares, corresponding to a market value of GHS 324,667.35, were traded. Compared with the previous GSE trading day (Monday, October 25), Tuesday’s data show over 200,000 decline in volume and 86% decline in turnover. That notwithstanding, at the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 1,262,036 shares, corresponding to a market value of GHS 2,355,281.50, were traded.
A further look at the sectorial fronts revealed a mixed market performance with two indices gaining while the other six remained unchanged from the previous day’s outcome. The banking and consumer goods indices recorded improvements on the back of buying interests in Republic Bank Ghana (RBGH) (+9.09%) and Enterprise Group (EGL) (+0.4%).
RBGH closed its trading day (Tuesday, October 26, 2021) at GHS0.60 per share on the Ghana Stock Exchange (GSE), recording 9.1% gain over its previous closing price of GHS0.55. Republic began the year with a share price of 0.41 GHS and has since gained 46.3% on that price valuation, ranking it eighth on the GSE in terms of year-to-date performance.
Similarly, EGL also closed its trading day (Tuesday, October 26, 2021) at GHS2.51 per share on the Ghana Stock Exchange (GSE), recording a 0.4% gain over its previous closing price of GHS2.50. Enterprise Group began the year with a share price of GHS1.40 and has since gained 79.3% on that price valuation, ranking it sixth on the GSE in terms of year-to-date performance. Shareholders can be optimistic about EGL knowing the stock has accrued 14% over the past four-week period—fourth best on GSE.
Conversely, the oil & gas, insurance, industrial goods and ICT indices closed flat, while investor sentiment remained unchanged as two stocks gained while eight stocks traded flat and none lost.
MTN Ghana led the volume front. It recorded the highest volume of 249,410 traded shares, followed by Cocoa Processing Company (10,800), Republic Bank Ghana (5,000) and Enterprise Group (2,000).
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) inched up 4.23 (0.15%) points to close at 2,856.01, representing a 1-week gain of 0.28 percent, a 4-week gain of 1.54 percent, and an overall year-to-date gain of 47.1 percent.
The GSE Financial Stocks Index (GSE-FSI) also increased by 0.37 percent to reach 2,082.12 points, making it a 1-week gain of 0.59 percent, a 4-week gain of 3.64 percent, and a year-to-date gain of 16.79 percent.
The current market capitalization of the Ghana Stock Exchange is GHS 64.2 billion, gaining GHS100 million in the process. The market capitalization of the Ghana Stock Exchange in the previous trading session was GHS 64.1 billion.
However, experts expect trading activity to pick up in the subsequent days to come as a result of increase in demand for bargain stocks.