The Ghana Stock Exchange (GSE) recorded an uptrend in GSE market capitalization on the last day of the month, Tuesday, August 31, 2021. The market cap surged by 0.019 per cent even though the market witnessed some lackluster movement in trading activity in last trading session.
According to Tuesday’s market report, the market capitalization on the last trading session appreciated by GHC11.61 million, representing a 0.019 per cent.
The market capitalization which opened at GHC62.89 billion previously, rose to GHC62.90 billion by close of market on Tuesday, following renewed interest in high capitalized stocks.
The uptrend was impacted by gains recorded in the consumer goods counter which led by Fan Milk Ghana Ltd.
Meanwhile, at the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 752,717 shares, corresponding to a market value of GHC 929,687.50, changed hands.
In spite of the rise in market indices and market capitalization, the total volume of shares traded declined. Compared with the previous GSE trading day (Monday, August 30), Tuesday’s data show 27 per cent decline in volume but 67 per cent improvement in turnover.
On the whole, twelve (12) GSE equities participated in trading, ending with only one gainer, namely Fan Milk, with 6.67% share price appreciation.
Fan Milk Ghana Limited closed its last trading day (Tuesday, August 31, 2021) at GHC1.60 per share on the Ghana Stock Exchange (GSE), recording a 6.7 per cent gain over its previous closing price of GHC1.50.
Meanwhile, Fan Milk Ghana was one of the hardest hit equities on the Ghana Stock Exchange since the COVID-19 pandemic entered the country. It however, started picking up since the turn of the year. Fan Milk Ghana began the year with a share price of GHC1.08 and has since gained 48.2 per cent on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance. Therefore, shareholders of Fan Milk can be optimistic about FML knowing the stock has accrued 14 per cent over the past four-week period – third best on GSE.
Volume Traded
In the volume front, MTN Ghana recorded the highest volume of 644,137 traded shares, followed by Aluworks with 55,971 shares. Ecobank Transnational also followed with 22,155 traded shares while Unilever Ghana also secured 19,302 shares.
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) inched up 1.11 (0.04%) points to close at 2,750.37 points. This represents a 1-week loss of 0.36 per cent, a 4-week gain of 0.78 cent, and an overall year-to-date gain of 41.66 per cent.
Financial Stock index
However, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,929.19 points, making it a 1-week gain of 0.89 per cent, a 4-week gain of 2.07 per cent, and a year-to-date gain of 8.21 per cent.
However, some analysts noted that they do not expect to see a sustained bullish run throughout the week, although investors have continued to seek bargain hunting opportunities.
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