The final weekday trading session at the Ghana Stock Exchange (GSE) was evenly balanced with GSE Composite Index retaining its points.
The session at the local bourse opened with blue chips going down and mid-caps going up. The market eventually marginally tilted in favor of gainers as one stock gained with none ending on the losing side.
The benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,460.31 points, representing a week-on-week gain of 3.99 percent. This further culminated in a 4-week gain of 0.01 percent, but an overall year-to-date loss of 11.8 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) did not also witness any increment as it maintained its value at 2,069.89 points, making it a 1-week gain of 0.08 percent, a 4-week loss of 0.01 percent, and a year-to-date loss of 3.81 percent.
NewGold ETF Makes Gains
In all, 13 GSE-listed equities participated in trading, ending with only one gainer, namely NewGold ETF, with a 1.28 percent share price appreciation.
NewGold, an exchange-traded fund sponsored by Absa Capital, offers the opportunity to invest in gold bullion.
NewGold ETF closed its trading day at GHS236.00 per share on the Ghana Stock Exchange (GSE), recording a 1.3 percent gain over its previous closing price of 233.01 GHS. NewGold ETF began the year with a share price of GHS108.60 and has since gained 117 percent on that price valuation, ranking it second on the GSE in terms of year-to-date performance. Shareholders can be optimistic about GLD knowing the stock has accrued 42% over the past four-week period alone—the best on GSE.
NewGold ETF is the seventh most-traded stock on the Ghana Stock Exchange over the past three months (Aug 1 – Oct 28, 2022). GLD has traded a total volume of 958,042 shares valued at GHS 181 million over the period, with an average of 15,207 traded shares per session. A volume high of 207,578 was achieved on August 17 for the same period.
At the end of the final weekday of trading on the Ghana Stock Exchange, a total of 1,114,854 shares, corresponding to a market value of GHS 979,155.94, were traded. Compared with the previous GSE trading day, the data showed a 383 percent improvement in turnover.
MTN Ghana recorded the highest volume of 1.1 million traded shares, followed by Camelot Ghana (10,001), CAL Bank (3,334), and Ecobank Transnational (1,820).
The current market capitalization of the Ghana Stock Exchange is GHS 64.7 billion.
Notwithstanding the current performance, the President made an address to the nation on Sunday regarding the current economic hardship the country is facing. However, it is yet to be seen whether his address will give some respite to the market.
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