Republic Bank Ghana Limited (formerly HFC Bank Limited) has suffered a defeat in its first outing of the week after a long absence from the local bourse, causing the main index to decline as a response.
In the aggregate, out of 17 GSE listed equities which participated in trading, the session ended with only one loser, namely Republic Bank Ghana, with 7.41% share price depreciation.
The Republic Bank Ghana Limited (RBGH) closed its trading day (Monday, October 9, 2023) at GHS0.50 per share on the Ghana Stock Exchange (GSE), recording a 4 pesewa drop from its previous closing price of GHS0.54.
Republic began the year with a share price of GHS0.54 but has since lost 7.41% off that price valuation, ranking it 30th on the GSE in terms of year-to-date performance.
Republic Bank Ghana is the 16th most traded stock on the Ghana Stock Exchange over the past three months (Jul 11 – Oct 9, 2023).
Total Volume of Shares Traded By RBGH
RBGH has traded a total volume of 87,623 shares valued at GHS 46,754 over the period, with an average of 1,391 traded shares per session. A volume high of 27,824 was achieved on August 1 for the same period.
Republic Bank Ghana Limited operates in the Financials sector, specifically, the Banking industry. It currently the 18th most valuable stock on the GSE with a market capitalization of GHS 426 million, which makes about 0.577% of the Ghana Stock Exchange equity market.
Regarding the performance of GSE market indices, Republic Bank’s fall affected both the financial index and the general index.
The benchmark GSE Composite Index (GSE-CI) pared 3.13 (-0.1%) points to close at 3,136.86, representing a 1-week loss of 0.74%, a 4-week gain of 2.12%, and an overall year-to-date gain of 28.35%.
Similarly, the GSE Financial Stocks Index (GSE-FSI) also decreased by 0.3% to 1,938.01 points, making it a 1-week gain of 2.53%, a 4-week gain of 9.82%, and a year-to-date loss of 5.58%.
At the end of the first weekday of trading on the Ghana Stock Exchange (GSE), a total of 20,544 shares, corresponding to a market value of GHS 33,063.11, were traded. Compared with the previous GSE trading day (Friday, October 6), Monday’s data showed 88 percent decline in volume and 80 percent decline in turnover.
Deservedly, Republic Bank Ghana recorded the highest volume of 11,820 traded shares. It was followed by MTN Ghana with 3,423 traded shares, Ecobank Ghana (2,500) and TotalEnergies Marketing Ghana (670).
Meanwhile, the market capitalization which determines how much a company is worth as determined by the stock market and constitute the total market value of all outstanding shares currently stands at GHS 73.9 billion.