In a week that saw all major stocks on the local bourse taking the back foot, Trust Bank Gambia (TBL) has taken the initiative and confidently started the new week in style with a considerable gain.
This northbound session was once again dominated by a strong showing by the banking stocks. Out of the 16 GSE listed equities that participated in trading, the session ended with only one gainer, namely Trust Bank Gambia, with 5.26 percent share price appreciation.
Trust Bank Gambia’s fairy tale performance continues as the bank is currently on a 10 day consecutive gaining streak. TBL closed its trading day (Monday, December 12, 2022) at GHS0.80 per share on the Ghana Stock Exchange (GSE), recording a 4 pesewa gain over its previous closing price of GHS0.76.
Trust Bank Gambia began the year with a share price of GHS0.34 and has since gained 135 percent on that price valuation, ranking it second on the GSE in terms of year-to-date performance and the best among the financial sector stocks. Given its recent performance, shareholders can be optimistic about TBL knowing the stock has accrued 33% over the past four-week period alone, which is best on GSE.
Trust Bank Gambia is the 14th most traded stock on the Ghana Stock Exchange over the past three months (Sep 13 – Dec 12, 2022). TBL has traded a total volume of 84,893 shares valued at GHS 50,011 over the period, with an average of 1,348 traded shares per session. A volume high of 60,000 was achieved on October 25, for the same period.
Benchmark Composite Index
The benchmark of the Ghana stock market reached the verge of 2,500 points on Monday with gains that diminished during the day but sufficed to offer it notable growth after a week of significant ups and downs.
The benchmark GSE Composite Index (GSE-CI) inched up 0.77 (0.03%) points to close at 2,461.39 points, representing a week-on-week loss of 0.08 percent, a month-on-month gain of 0.49 percent, but an overall year-to-date loss of 11.76 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.07% to reach 2,078.23 points, making it a 1-week gain of 0.07%, a 4-week gain of 0.32%, but a year-to-date loss of 3.42%.
The trading session ended with a total of 14,890 shares, corresponding to a market value of GHS 13,587.26. After Monday’s trading, MTN Ghana recorded the highest volume of 5,095 traded shares, followed by Stanchart Preferential Shares (3,842), Trust Bank Gambia (2,293) and Produce Buying Company (1,000).
However, the market capitalization which measures total market value of a company’s outstanding shares of stock of the Ghana Stock Exchange unfortunately dropped by GHS100 million to stand at GHS 64.6 billion from GHS 64.7 billion.
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