Trading began on Tuesday this week because of the holiday. The stock market’s five-day winning streak for last week was halted as losses in two equities forced the GSE-Composite Index 7.08 points lower at 1,038.40 points. The GSE-Financial Stock Index recorded a 1.01% decline to close at 890.79 points, as the losses recorded on Tuesday were those of financial stocks.
Trade volume declined by 66.62%, compared to the previous session, as 0.09million shares exchanged hands for a sum of GHS 0.09 million, 27.77% less than the previous session. Ecobank Transnational Inc. (ETI) dominated trading in terms of volume with 19.42% of the shares traded, while UNILEVER dominated in terms of value, accounting for 34.43% of the turnover.
CAL Bank was the sole gainer, closing at a year-high of GHS0.30, from GHS0.29. ETI and SIC Insurance declined by a pesewa each to close at GHS0.13 and GHS0.32 respectively.
Trading continued on Wednesday and on this day GSE-Composite Index climbed 2.30 points to close at 1,040.70 points, following gains in three equities, bringing the year-to-date change to 7.40%. The financial stock benchmark followed suit, closing 2.61 points higher at 893.32 points
A total of 0.22 million shares were traded between 15 equities, for a sum of GHS 0.31 million. Trade volume was more than double that of the previous session while the turnover more than tripled. Ghana Commercial Bank (GCB) led the market with 51.96% of the volume recorded and 75.74% of the total trade value.
GCB gained 3pesewas to close at a year-high of GHS 2.00. Other gainers were Fan Milk Ltd (FML) and SIC, closing at GHS1.95 and GHS 0.33 respectively. On the downside, Standard Chartered Bank (SCB) declined by a pesewa to close at GHS 46.08 for the day.
On Thursday, Ecobank Ghana (EBG) held lion’s share of trade value and Market recorded worst performance. (click to read more on that.)
For the last day of the week, the local bourse returned 0.14% as gains in three equities pushed the GSE-Composite Index 1.47points higher, to close at 1,032.13 points. The financial stock benchmark however, dropped 0.96 points to 882.04 points, as no gains were recorded in financial stocks as against a decline in SCB’s stock price.
With 0.46 million shares trading, the day’s volume was nearly four times the previous session and the turnover of GHS0.62 million, more than four times the previous session. GGBL dominated trading with 43.05% of the trade volume and 76.15% of the trade value.
Five price changes were recorded today. Three gainers, FML, GGBL and TLW, with GGBL closing at a year-high of GHS2.35. SCB and TOTAL recorded losses.
Source of Data: CAL Brokers Ltd & Ghana Stock Exchange