The Ghana Stock Exchange (GSE) closed mixed amidst buy-interests and sell-offs, as bears and bulls faced-off in a fierce battle which eventually weighed down the market capitalization and the broader market.

In all, 15 GSE listed equities participated in trading, ending with two gainers and two losers. The two gainers were NewGold ETF (+6.81%) and Benso Oil Palm Plantation (+0.14%). Meanwhile, the two losers on the day were MTN Ghana (-9.09%) and Ghana Oil Company (-0.56%).

NewGold ETF’s (GLD) gaining streak continues, marking seven consecutive days of stock appreciation- one of the longest gaining streak in recent months on GSE.

GLD closed its trading day (Thursday, October 20, 2022) at GHS254.00 per share on the Ghana Stock Exchange (GSE), recording a GHS16.2 gain over its previous closing price of GHS237.80.

It is interesting to know that NewGold ETF began the year with a share price of GHS108.60 and has since gained 134% on that price valuation, ranking it second on the GSE in terms of year-to-date performance. With the current trend, shareholders can be optimistic about GLD knowing the stock has accrued an outstanding 53% over the past four-week period alone—best on GSE.

NewGold ETF is the eighth most traded stock on the Ghana Stock Exchange over the past three months (Jul 22 – Oct 20, 2022). GLD has traded a total volume of 867,427 shares valued at GHS 156 million over the period, with an average of 13,769 traded shares per session. A volume high of 207,578 was achieved on August 17, for the same period.

The second gainer Is Benso Oil Palm Plantation Limited (BOPP). BOPP also closed its trading day at GHS6.91 per share on the Ghana Stock Exchange (GSE), recording a pesewa gain over its previous closing price of GHS6.90.

Losers on the Day

MTN Ghana finally made a price movement after more than a week of sitting on the fence. However, the latest price movement ended on the bearish territory as it experienced price depreciation.

MTNGH closed its trading session at GHS0.80 per share on the local bourse, recording 8 pesewas drop from its previous closing price of GHS0.88. MTN began the year with a share price of GHS1.11 but has since lost 27.9% off that price valuation, ranking it 37th on the GSE in terms of year-to-date performance.

However, the telecommunication company, MTN Ghana, is the number one most traded stock on the Ghana Stock Exchange over the past three months (Jul 22 – Oct 20, 2022). In total, MTNGH has traded a total volume of 119 million shares valued at GHS 96.8 million over the period, with an average of 1.89 million traded shares per session. A volume high of 60.8 million was achieved on August 2 for the same period.

The other loser on the day was Ghana Oil Company Limited, popularly known as GOIL. GOIL closed the trading session at GHS1.76 per share on the Ghana Stock Exchange, recording one pesewa drop from its previous closing price of GHS1.77. Meanwhile, Ghana Oil began the year with a share price of 1.82 GHS but has since lost 3.3% off that price valuation, ranking it 27th on the GSE in terms of year-to-date performance.

Sectoral Level

On a sectoral level, major indices of the Ghanaian Stock Exchange closed negative with GSE Composite Index plummeting 94.55 (-3.84%) points to close at 2,365.89 points. However, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 2,068.16 points.

At the end of Wednesday’s trading session on the Ghana Stock Exchange, a total of 239,123 shares, corresponding to a market value of GHS 1,989,575.34, were traded. Compared with the previous GSE trading day (Wednesday, October 19), Wednesday’s data showed 312% improvement in volume but 19% decline in turnover.

MTN Ghana recorded the highest volume of 195,348 traded shares, followed by Benso Oil Palm Plantation (20,000), Total Petroleum Ghana (6,784) and NewGold ETF (6,535).

The current market capitalization, meanwhile, fell from GHS 64.5 billion to the current to the current GHS 63.7 billion.