The Ghana Stock Exchange (GSE) recorded a positive market breadth with two gainers relative to zero losers recorded at the last trading session to end the month of July.
The Ghanaian stocks accelerated by 909 percent on Friday July 30, constricting the loss reported at the previous trading session. Meanwhile, the big-cap equities including MTN Ghana and Total Petroleum Ghana drove the gains.
Also strengthening gains, the manufacturing index jumped 3 points settle at 368.5 basis points, recording the best performance of the five sectorial indices tracked by the Accra bourse.
Moreover, four GSE equities participated in trading in the last session, ending with two gainers and no losers. Unilever Ghana led gainers, appreciating by 10 per cent over it’s previous closing price of GHc2 to close at GHc2.20. However, Unilever began the year with a share price of GHc8.29 but has since lost 73.5% off that price valuation.
More so, Total Petroleum Ghana also rounded the week with a gain. TOTAL Ghana closed its last trading day (Friday, July 30, 2021) at GHc4.00 per share on the Ghana Stock Exchange, notching a 9.6 per cent gain over its previous closing price of GHc3.65.
Meanwhile, Total Petroleum began the year with a share price of GHc2.83 and has since gained 41.3 per cent on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance.
In the intervening time, shareholders would be optimistic about Total Ghana knowing the stock has accrued 10% over the past four-week period—third best on GSE.
In addition, Total Petroleum Ghana traded a total volume of 1.19 million shares valued at GHc 4.04 million over the period, with an average of 18,952 traded shares per session.
Top Four Trades
On the whole, a total of 789,505 shares, corresponding to a market value of GHc 1,066,697.40, were traded. Compared with the previous GSE trading day (Thursday, July 29), Friday’s data show 909% improvement in volume and 985% improvement in turnover.
On the activity chart, MTN Ghana led the charge. It recorded the highest volume of 747,488 traded shares. It was followed by Unilever Ghana with 17,017 traded shares. Meanwhile, Total Petroleum Ghana and Access Bank Ghana followed in that order with 15,000 and 10,000 traded shares respectively.
Performance of Market Indices
Regarding the performance of GSE market indices, the benchmark index advanced by 4.93 points thereby, adding 0.18 per cent to close at 2,717.30 points, clawing back the lost suffered at the previous trading session.
However, the build up in the stocks represent a 1-week gain of 2.5% and a 4-week gain of 2.45%. It also translated into a gain of 39.95 percent in the overall year-to-date index.
Meanwhile, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,890.15 points, making it a 1-week loss of 0.02% and a 4-week gain of 0.17%.
However, some analysts do not expect to see a sustained bullish run, although investors have continued to seek bargain hunting opportunities on the local bourse while others also expect the uptrend to extend in the coming days.