Week in Focus: How stocks performed on the Ghana Stock Exchange (GSE)

New week, new gains, new losses, the GSE did not show any clear direction. On Monday the Ghana Stock Exchange gained some ground as gains in CAL Bank and Mechanical Lloyd Company (MLC) offset losses in two other equities. The GSE-Composite Index closed at 1,036.48 points, from 1,035.97 points and the GSE-Financial Stock Index closed at 872.44 points, up 0.64 points from 871.80 points. A total of 0.35 million shares traded, a 51.39% decline from the 0.72 million shares traded at the previous session. The corresponding trade value was GHS0.10 million, 43.76% less than the previous session.
MLC dominated trading for the second successive session. Click for details.

On Tuesday, the banking sector affected the market indices as marginal losses in two banking stocks drove the both indices downwards. CAL Bank and Ecobank Ghana (EBG) recorded negative price changes. The GSE-Composite Index decreased by 1.17 points to close at 1,035.31 points, bringing the year-to-date return to 6.84%. The financial stocks index closed at 870.25 points, a 0.25% decline from the previous closing of 872.44 points. Compared to the previous session, Tuesday’s trade volume and corresponding trade value were 56.32% and 14.96% respectively less. Ghana Commercial bank (GCB) led the market in terms of value with 29.51%, while SIC Insurance led in terms of volume, accounting for 25.64% of the shares traded. Furthermore Guinness Ghana brewery limited (GGBL) was the sole gainer and it moved up by a pesewa to a year-high of GHS2.40.

Positive price changes in three equities on Wednesday, edged up performance on the local bourse. The GSE-Composite Index climbed 1.47 points to close mid-week trading at 1,036.78 points whiles the financial stocks index returned 0.09% to close 0.78 points higher at 871.03 points.
Now let’s look at the stocks that moved the market. Trading was dominated by UT Bank (UTB) in terms of volume, with 37.47% of the trade volume, and Ghana Oil (GOIL) in terms of value, with 36.55% of the turnover. GOIL closed at record-high of GHS0.55, up GHS0.01 from GHS0.54 whiles TOTAL Petroleum and UTB also gained.

The stock market on Thursday, declined as fall of GOIL’s stock price forced the GSE-Composite Index down, 0.39 points to close at 1,036.39 points. The financial index was not affect and it stayed flat. The trade volume and value declined for the fifth successive session as 0.09 million shares were traded for GHS0.04 million, 20.26% less than Wednesday’s turnover of GHS0.05 million. Trading was dominated by UTB, accounting for 52.38% and 35.75% of the trade volume and trade value respectively.

Trading on the bourse yesterday ended the week in silence. Activities on the exchange kept the indices stable. The GSE-Composite Index and the GSE-Financial Stock Index remained stable at 1,036.39 points and 871.03 points respectively meanwhile, Friday’s turnover exceeded the previous session’s by a marginal 0.29%. New faces for the week, like Ecobank Transnational Inc. (ETI) trades accounted for 47.58% of the shares traded, while Standard Chartered Bank (SCB) led the market in terms of value, with more than 50% of the turnover. Due to low activity in the market at the end of the week, no price changes were recorded for the day.

Looking ahead: Next week could begin as an active week for ETI, GOIL and SG-SSB since more Bids orders awaits Offers in the market. On the other hand, more Offers await Bids for CAL Bank and Mechanical Lloyd Company and this can best be confirmed affect the Pre-market trades on Monday. I hope next week restore high activity in the market.
Keep Investing and following this blog for the best.

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