The Ghana Stock Exchange (GSE) has rounded off the week with a loss as the benchmark posted a notable decline that was eventually smaller than its mid-session losses on Friday, March 3, 2023.
A late stop-loss reaction that culminated during the closing auctions arrested the decline of the main index to some extent, but losing stocks outnumbered the gainers by three to one.
The benchmark GSE Composite Index (GSE-CI) dropped 12.05 (-0.5%) points to close at 2,386.82 points, representing a 1-week loss of 1.59%, a 4-week gain of 1.89%, but an overall year-to-date loss of 2.34%.
The GSE Financial Stocks Index (GSE-FSI) also decreased by 1.47% to 1,885.95 points, making it a 1-week loss of 4.92%, a 4-week loss of 6.55%, and a year-to-date loss of 8.12%.
In the aggregate, 15 GSE listed equities participated in trading, ending with only one gainer, namely TotalEnergies Marketing Ghana, with 9.41% share price appreciation. On the losing side, Enterprise Group came out last with an end-of-day price depreciation of 6.25% at GHS 3.00 per share, followed by Standard Chartered Bank (-4.76%) and Ghana Oil Company (-1.79%).
TotalEnergies Marketing Ghana (TOTAL) closed its trading day at GHS5.00 per share on the Ghana Stock Exchange, recording a 43 pesewas gain over its previous closing price of GHS4.57. TotalEnergies began the year with a share price of GHS4.00 and has since gained 25% on that price valuation, ranking it second on the GSE in terms of year-to-date performance. Shareholders can be optimistic about TOTAL knowing the stock has accrued 23% over the past four-week period alone — second best on GSE.
TotalEnergies Marketing Ghana is the ninth most traded stock on the Ghana Stock Exchange over the past three months (Nov 30, 2022 – Mar 3, 2023). TOTAL has traded a total volume of 323,046 shares valued at GHS 1.3 million over the period, with an average of 5,128 traded shares per session. A volume high of 229,575 was achieved on December 23, 2022 for the same period.
Laggards on the Final Day of the Week
Enterprise Group Limited (EGL) was one of the three laggards of the day. EGL closed its trading day at GHS3.00 per share on the Ghana Stock Exchange, recording a 20 pesewas drop from its previous closing price of GHS3.20. Enterprise began the year with a share price of GHS3.20 but has since lost 6.25% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance.
The second biggest loser was Standard Chartered Bank Limited (SCB). SCB closed its trading day at GHS19.00 per share on the Accra bourse, recording a GHS0.95 drop from its previous closing price of GHS19.95. Standard Chartered began the year with a share price of GHS20.16 but has since lost 5.75% off that price valuation, ranking it 30th on the GSE in terms of year-to-date performance.
The Ghana Oil Company Limited (GOIL) ended the list of losers with 4 pesewas drop from its previous closing price of GHS1.68. Ghana Oil began the year with a share price of GHS1.72 but has since lost 4.07% off that price valuation, ranking it 29th on the GSE in terms of year-to-date performance.
Ghana Oil Company is the third most traded stock on the Ghana Stock Exchange over the past three months (Nov 30, 2022 – Mar 3, 2023). GOIL has traded a total volume of 2.08 million shares valued at GHS 3.57 million over the period, with an average of 32,968 traded shares per session. A volume high of 1.84 million was achieved on December 23, 2022 for the same period.
At the end of the final weekday of trading on the Ghana Stock Exchange, a total of 55,971 shares, corresponding to a market value of GHS 90,660.23, were traded. Compared with the previous GSE trading day (Thursday, March 2), Friday’s data showed 75% decline in volume and 90% decline in turnover.
MTN Ghana recorded the highest volume of 29,866 traded shares, followed by Ghana Oil Company (12,170), CAL Bank (6,186) and TotalEnergies Marketing Ghana (2,555).
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