The Ghana Stock Exchange (GSE) bucked the negative trend observed on African markets on Wednesday, gaining marginally thanks to buying across some blue chips from the banking sector, petroleum and agriculture sector.
In total, 19 GSE listed equities participated in trading, ending with three gainers and just one loser. Benso Oil Palm Plantation led the gainers with 10% share price appreciation closing at GHS 15.40 per share, followed by TotalEnergies Marketing Ghana (+9.89%) and Societe Generale Ghana (+8.75%). The only equity that lost value on the day was Ecobank Ghana (-10%).
The highest gainers among blue chips was Benso Oil Palm Plantation Limited (BOPP). BOPP closed its trading day (Wednesday, August 16, 2023) at GHS15.40 per share on the Ghana Stock Exchange, recording a massive gain of GHS1.40 over its previous closing price of GHS14.00. Benso Oil Palm Plantation began the year with a share price of GHS7.65 and has since gained 101% on that price valuation, ranking it second on the GSE in terms of year-to-date performance. Shareholders can be optimistic about BOPP knowing the stock has accrued 10% over the past four-week period—fifth best on GSE.
Benso Oil Palm Plantation is the 18th most traded stock on the Ghana Stock Exchange over the past three months (May 18 – Aug 16, 2023). BOPP has traded a total volume of 42,534 shares valued at GHS 593,479 over the period, with an average of 675 traded shares per session. A volume high of 5,607 was achieved on July 12 for the same period.
TOTAL also closed its trading session gaining 78 pesewas to close at GHS8.67. However, this is a significant growth knowing that TotalEnergies began the year with a share price of GHS4.00 and has since gained 117% on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
Societe Generale Ghana Ltd. (SOGEGH) completed the list of gainers on the local bourse. SOGEGH closed its trading day at GHS0.87 per share on the Ghana Stock Exchange, recording 7 pesewas gain over its previous closing price of GHS0.80.
However, Societe Generale began the year with a share price of GHS1.00 but has since lost 13% off that price valuation, ranking it 31st on the GSE in terms of year-to-date performance. Despite its mixed performance over the year, shareholders may take solace in the fact that SOGEGH recorded 30% increase in its share price since July 18, which is best on GSE.
The Only Loser on the Day
Ecobank Ghana Limited (EGH) emerged as the only loser on the day, closing its trading day at GHS4.32 per share on the Ghana Stock Exchange, recording a 48 pesewas drop from its previous closing price of GHS4.80.
Ecobank began the year with a share price of GHS6.64 but has since lost 34.9% off that price valuation, ranking it 36th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that EGH has lost 20% of the stock’s value from July 18 to date.
Ecobank Ghana is the 19th most traded stock on the Ghana Stock Exchange over the past three months (May 18 – Aug 16, 2023). EGH has traded a total volume of 35,770 shares valued at GHS 179,665 over the period, with an average of 568 traded shares per session. A volume high of 8,041 was achieved on August 15 for the same period.
At the end of the trading session on the Ghana Stock Exchange, a total of 46,197 shares, corresponding to a market value of GHS 147,615.99, were traded. Despite the performance by the blue chips, compared with the previous GSE trading day (Tuesday, August 15), the data showed 79% decline in volume and 62% decline in turnover.
The Ghanaian equity market experienced an upturn in today’s trading session, as the Composite Index (GSE-CI) secured an additional 2.83 points (0.09%), driven by the upticks in BOPP, TOTAL, and SOGEGH share prices, which managed to offset the decline observed in EGH share prices. As a result, the Composite Index settled at 3,061.81 points, reflecting a year-to-date return of 25.28%.
At the end of the session, the Ghanaian equity market Composite Index (GSE-CI) secured an additional 2.83 points (0.09%), thanks to upticks in BOPP, TOTAL, and SOGEGH share prices, which managed to offset the decline observed in EGH share prices. As a result, the Composite Index settled at 3,061.81 points, reflecting a year-to-date return of 25.28%.
In contrast, the Financial Stocks Index (GSE-FSI) experienced a downturn due to the EGH share price decline, losing 18.25 (1.08%) points to end the day at 1,669.26 points, reflecting a year-to-date loss of 18.68%.
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