The Ghana Stock Exchange (GSE) has enjoyed a sterling performance for the first time in a long while as the benchmark composite index made gains on the second trading day of the week.
The benchmark GSE Composite Index (GSE-CI) moved up 16.78 (0.67%) points to close at 2,531.77 points. For the first time in months, Tuesday’s gains pushed the composite index to make a week-on-week gain of 0.8 percent. However, on a month-to-month basis, the index recorded a loss of 6.58%, but an overall year-to-date gain of 3.6%.
This a good news to the local bourse, signifying that investor confidence is gradually returning to the market.
On the hind side, the GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,675.78 points, making it a 1-week loss of 0.09%, a 4-week loss of 2.73%, and a year-to-date loss of 18.36%.
Trading Activity Level Rises
At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 178,035 shares, corresponding to a market value of GHS 403,888.03, were traded. Compared with the previous GSE trading day (Monday, June 5), the data showed 581% improvement in volume.
Guinness Ghana Breweries recorded the highest volume of 131,050 traded shares, followed by MTN Ghana (17,899), Societe Generale Ghana (10,133) and Standard Chartered Bank (9,100).
In all, 15 GSE listed equities participated in trading, ending with two gainers and no losers. The two gainers were Guinness Ghana Breweries (+9.66%) and MTN Ghana (+0.92%).
Guinness Ghana Breweries Limited (GGB) closed its trading day (Tuesday, June 6, 2023) at GHS1.93 per share on the local bourse, recording a 17 pesewas gain over its previous closing price of GHS1.76.
Guinness Ghana Breweries began the year with a share price of GHS2.05 but has since lost 5.85% off that price valuation, ranking it 30th on the GSE in terms of year-to-date performance. Shareholders’ fears may be allayed by the 29% increase of GGBL share price since May 9, which is second best on GSE.
Guinness Ghana Breweries is the second most traded stock on the Ghana Stock Exchange over the past three months (Mar 3 – Jun 6, 2023). GGBL has traded a total volume of 8.09 million shares valued at GHS 12.2 million over the period, with an average of 128,342 traded shares per session. A volume high of 2.82 million was achieved on May 9 for the same period.
MTNGH also closed its trading day at GHS1.10 per share on the Ghana Stock Exchange, recording a pesewa gain over its previous closing price of GHS1.09. MTN began the year with a share price of GHS0.88 and has since gained 25% on that price valuation, ranking it fourth on the GSE in terms of year-to-date performance. Investors should, however, take caution of MTNGH’s recent poor performance, having lost 12% of its value in the past four weeks.
MTN Ghana is the number one most traded stock on the Ghana Stock Exchange over the past three months (Mar 3 – Jun 6, 2023). MTNGH has traded a total volume of 193 million shares valued at GHS 182 million over the period, with an average of 3.06 million traded shares per session.
The current market capitalization of the Ghana Stock Exchange is GHS 66.1 billion.