The local bourse has recorded a positive momentum in mid-week’s trading session, leaving previous nightmarish performance behind it to rejuvenate the equities market.
In the aggregate, 15 GSE listed equities participated in trading, ending with only one gainer, namely GCB Bank, with 3.03% share price appreciation.
GCB closed its trading day (Wednesday, August 9, 2023) at GHS3.40 per share on the Ghana Stock Exchange (GSE), recording a 10 pesewa gain over its previous closing price of GHS3.30.
However, GCB began the year with a share price of GHS3.94 but has since lost 13.7% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance. That notwithstanding, shareholders’ fears may be allayed by the 6% increase of GCB share price since July 11, which is fourth best on GSE.
GCB Bank is currently the sixth most traded stock on the Ghana Stock Exchange over the past three months (May 11 – Aug 9, 2023). GCB has traded a total volume of 1.14 million shares valued at GHS 3.64 million over the period, with an average of 18,079 traded shares per session. A volume high of 1.02 million was achieved on June 13 for the same period.
The Benchmark Composite Index
Consequently, this turnaround was driven by an upswing in GCB’s share price. The Benchmark Composite Index (GSE-CI) gained 2.44 points (0.08%), closing at 3,105.52 points, which reflected a year-to-date (YTD) return of 27.07%.
Similarly, the Financial Stocks Index (GSE-FSI) experienced a positive uptick of 4.60 points (0.27%), concluding the day at 1,728.38 points. However, the index recorded a YTD loss of 15.80%. These upward shifts in the market signal potential improvements and offer a glimpse of positivity.
At the end of Wednesday’s trading session on the Ghana Stock Exchange (GSE), a total of 41,657 shares, corresponding to a market value of GHS 78,463.12, were traded. Compared with the previous GSE trading day (Tuesday, August 8), the data showed 5% improvement in volume and 19% improvement in turnover.
MTN Ghana recorded the highest volume of 13,145 traded shares, followed by Republic Bank Ghana (12,478), GCB Bank (6,500) and Access Bank Ghana (5,471).
The current market capitalization of the Ghana Stock Exchange is GHS 73.5 billion.