The Telecom giant, MTN Ghana, in the last trading session on the Ghana Stock Exchange (GSE) suffered an excruciating loss in its stock as its share price dipped by 1.6 percent.
At the end of the Tuesday’s trading session, 10 Ghana Stock Exchange equities participated in trading, ending with only one gainer, namely CAL Bank, with 2.78 percent share price appreciation and also one loser, namely MTN Ghana (-1.59%).
MTN Ghana closed its last trading day (Tuesday, September 14, 2021) at GHS1.24 per share on the Ghana Stock Exchange (GSE), recording a 1.6 percent drop from its previous closing price of GHS1.26.
However, MTN Ghana began the year with a share price of GH 0.64 and has since gained 93.8 percent on that price valuation, ranking it first on the GSE in terms of year-to-date performance.
Moreover, MTN Ghana is the most traded stock on the Ghana Stock Exchange over the past three months (Jun 16 – Sep 14, 2021). MTN Ghana has traded a total volume of 45.7 million shares valued at GHS 56.4 million over the period, with an average of 726,133 traded shares per session. A volume high of 5.61 million was achieved on August 17, 2021. Also, the lowest traded shares of 1,460 was recorded on August 12, for the same period.
Furthermore, MTN Ghana accounts for close to 80 percent of trading activity on the Ghana Stock Exchange.
CAL Bank Share Price Appreciates
Meanwhile, CAL Bank which emerged as the only gainer on the day closed its last trading day (Tuesday, September 14, 2021) at GHS0.74 per share on the Ghana Stock Exchange (GSE), recording a 2.8 percent gain over its previous closing price of GHS0.72.
CAL Bank since the turn of the year has done considerably well. It began the year with a share price of GHS0.69 and has since gained 7.25 percent on that price valuation, ranking it 13th on the GSE in terms of year-to-date performance.
The recent performance of CAL Bank has renewed interest from its investors. Shareholders can be optimistic about CAL Bank knowing the stock has accrued 6 percent over the past four-week period. CAL Bank is currently eighth best stock on GSE.
In addition, CAL Bank is the second most traded stock on the Ghana Stock Exchange over the past three months (Jun 16 – Sep 14, 2021). CAL Bank has traded a total volume of 9.04 million shares valued at GHS 6.38 million over the period. It accumulates an average of 143,493 traded shares per session. A volume high of 2.02 million was achieved on August 2, for the same period.
Performance of GSE in Last Trading Session
At the end of Tuesday’s trading session on the Ghana Stock Exchange (GSE), a total of 3,945,672 shares, corresponding to a market value of GHS 4,949,592.06, were traded.
Notwithstanding the lost, MTN Ghana recorded the highest volume of traded shares. It registered 3.8 million traded shares. It was followed by Ghana Oil Company (130,433), CAL Bank (7,868) and GCB Bank (2,250).
The loss in the telecommunication stocks has impacted the performance of GSE market indices. The benchmark GSE Composite Index (GSE-CI) dropped 22.29 (-0.79%) points to close at 2,788.57 points, representing a 1-week gain of 1.02%, a 4-week gain of 1.47%, and an overall year-to-date gain of 43.62%.
The GSE Financial Stocks Index (GSE-FSI), on the other hand, increased by 0.11% to reach 1,980.43 points, making it a 1-week gain of 2.48%, a 4-week gain of 3.69%, and a year-to-date gain of 11.09%.
In addition, the current market capitalization of the Ghana Stock Exchange stands at GHS 63.5 billion.
However, an analyst says the market is overreacting because the performance of MTN Ghana in last trading session was not particularly bad.
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