Luck finally smiled at the Ghana Stock Exchange (GSE) as the bourse’s fourth trading session efforts of the week proved successful and thus, effectively ended it’s three consecutive day losing streak.
The week began with the Accra Bourse benchmark indices recording losses with analysts suggesting the subsequent sessions will elevate the bourse. However, the losing streak continued until Thursday’s trading session which saw the local bourse take a breather and ended on the flat note.
The benchmark GSE Composite Index (GSE-CI) also halted it’s losing streak and ended the day on the line. The Composite Index did not see any change, closing at the same mark as it opened at 2,431.24 points. Unfortunately, it led to a week-on-week loss of 0.18 percent, a month-on-month loss of 0.53 percent, and an overall year-to-date loss of 0.52 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also maintained its value at 2,042.80 points, making it a 1-week loss of 0.21 percent, a 4-week loss of 0.5 percent, and a year-to-date loss of 0.48 percent.
NewGold ETF Shares Appreciate
At the end of the session, a total of nine GSE listed equities participated in trading, ending with one gainer, namely NewGold ETF, with 0.95 percent share price appreciation. Meanwhile, the rest did not see any depreciation or appreciation of their shares prices.
NewGold ETF (GLD) closed its trading day (Thursday, January 26, 2023) at GHS243.20 per share on the local bourse, recording a GHS2.30 gain over its previous closing price of 240.90 GHS. NewGold ETF began the year with a share price of 217.80 GHS and has since gained 11.7% on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
Shareholders can be optimistic about GLD knowing the stock has accrued 15% over the past four-week period- best on GSE.
NewGold ETF is the third most traded stock on the Ghana Stock Exchange over the past three months (Oct 25, 2022 – Jan 26, 2023). GLD has traded a total volume of 95,559 shares valued at GHS 186 million over the period, with an average of 15,104 traded shares per session. A volume high of 545,125 was achieved on December 13, 2022 for the same period.
In the meantime, ETF is currently the 11th most valuable stock on the GSE with a market capitalization of GHS 705 million, which makes about 1.09% of the Ghana Stock Exchange equity market.
Thursday’s trading session on the local equities market ended with a total of 13,393 shares, corresponding to a market value of GHS 14,850.57. However, compared with the previous GSE trading day (Wednesday, January 25), Thursday’s data showed 41 percent decline in volume and 23 percent decline in turnover.
MTN Ghana again recorded the highest volume of 11,737 traded shares, followed by CAL Bank (1,394), Benso Oil Palm Plantation (110) and Fan Milk (100).
The market capitalization which is total market value of a company’s outstanding shares of stocks on the Ghana Stock Exchange remained the same at GHS 64.5 billion.
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