NewGold ETF (GLD) which allows institutional and retail investors the opportunity to invest in commodity markets and gold bullion, has lost 2.1 percent of its shares on the first day of the trading week.
GLD closed its trading day (Monday, September 5, 2022) at GHS166.50 per share on the Ghana Stock Exchange (GSE), recording a GHS3.5 drop from its previous closing price of GHS170.00.
However, NewGold ETF, which started the year with a share price of GHS108.60, has since gained 53.3 percent on that price valuation, and currently ranking second on the GSE in terms of year-to-date performance.
That not withstanding, despite Monday’s loss, shareholders can be optimistic about GLD knowing the stock has accrued 6 percent over the past four-week period which is fifth best on GSE.
NewGold ETF is the eighth most traded stock on the Ghana Stock Exchange over the past three months (Jun 7 – Sep 5, 2022). GLD has traded a total volume of 370,769 shares valued at GHS 61.1 million over the period, with an average of 5,885 traded shares per session. A volume high of 207,578 was achieved on August 17, 2022 for the same period.
Trading Activities on the Day
Trading activities on the trading day was impressive. At the end of the first weekday of trading on the local bourse, a total of 1,140,244 shares, corresponding to a market value of GHS 4,986,318.12, were traded.
In the intervening time, 10 GSE listed equities participated in trading, ending with one loser, namely NewGold ETF and no gainer.
GCB Bank recorded the highest volume of 825,013 traded shares. This was followed by Enterprise Group with 291,038 traded shares, while MTN Ghana also secured 18,255 traded shares. NewGold ETF completed the list of top tickers with 4,000 traded shares.
Performance of GSE Indices
Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,508.99 points, representing a week-on-week gain of 1.46 percent, and a month-on-month gain of 5 percent, but an overall year-to-date loss of 10.05 percent.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also maintained its value at 2,079.94 points, making it a 1-week gain of 3.06 percent, a 4-week gain of 0.06 percent, and a year-to-date loss of 3.34 percent.
However, the market capitalization of the Ghana Stock Exchange jumped from GHS 64 billion to settle at GHS 64.5 billion.