The Ghana Stock Exchange (GSE) indices refused to yield to pressure from the substantial loss suffered by Unilever Ghana as the index shifted northward against tides.
It was a mixed picture on the Ghana stock market on Tuesday, as early gains gave way to losses before sellers got the upper hand focusing on certain blue chips.
The balance of winners and losers was telling as a significant major blue chip stock ended up in the blue while another also ended up in the red for the day. Still, the benchmark and financial index notched up a fresh gains on the day.
In total, 10 GSE listed equities participated in trading, ending with only one gainer, namely Trust Bank Gambia, with 5.88% share price appreciation, while Unilever Ghana suffered 9.98% share price depreciation.
Detailing the performance on the day, the benchmark GSE Composite Index (GSE-CI) inched up 0.77 (0.03%) points to close at 2,463.57 points. This represents a week-on-week gain of 0.53 percent and a month-on-month gain of 0.62 percent, but an overall year-to-date loss of 11.68 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.07 percent to reach 2,075.79 points, making it a 1-week gain of 0.1 percent, a 4-week gain of 0.37 percent, and a year-to-date loss of 3.53 percent.
The Only Winner on the Day
The only winner on the day- Trust Bank Gambia Limited closed its trading day (Tuesday, November 22, 2022) at GHS0.74 per share on the Ghana Stock Exchange, recording a 2 pesewas gain over its previous closing price of GHS0.72.
However, Trust Bank Gambia began the year with a share price of GHS0.34 and has since gained 118 percent on that price valuation, ranking it third on the GSE in terms of year-to-date performance. Meanwhile, shareholders can be optimistic about TBL knowing the stock has accrued 35% over the past four-week period alone- best on GSE.
On the other hand, Unilever Ghana Limited (UNIL) closed its trading day at GHS4.78 per share on the GSE, recording a 53 pesewas drop from its previous closing price of GHS5.31. That notwithstanding, Unilever began the year with a share price of GHS5.89 but has since lost 18.9% off that price valuation, ranking it 32nd on the GSE in terms of year-to-date performance.
Unilever Ghana is the 28th most traded stock on the Ghana Stock Exchange over the past three months (Aug 25 – Nov 22, 2022). UNIL has traded a total volume of 2,384 shares valued at GHS 12,124 over the period, with an average of 38 traded shares per session. A volume high of 1,001 was achieved on November 22 for the same period.
However, at the end of the first weekday of trading on the Ghana Stock Exchange, a total of 11,587 shares, corresponding to a market value of GHS 16,012.92, were traded. Compared with the previous GSE trading day, Tuesday’s data showed 33% decline in volume and 14% decline in turnover.
MTN Ghana recorded the highest volume of 5,342 traded shares, followed by Trust Bank Gambia (3,000), GCB Bank (1,849) and Ghana Oil Company (715).
The current market capitalization of the Ghana Stock Exchange is GHS 64.9 billion.