Ghana Stock Exchange recorded a 3rd straight win as new year-highs ended mid-week trading

Let us see what happened on the Ghanaian stock market so far in this week. Having gone three successive sessions without a positive return, the Ghana Stock Exchange-Composite Index picked up 7.74 points, to close trading at 1,042.37 points. The change brought the year-to-date return to 7.74% as at Monday. Gains in Ecobank Transnational Inc,(ETI) and UT Bank (UTB) ended a five-day losing streak as the GSE-Financial Index climbed 10.76 points clear of Friday’s closing at 872.12 points.
A total of 0.20 million shares
were traded, more than double the previous session’s, for a sum of GHS0.25 million, a 7.39% decline. SIC Insurance recorded the highest volume of trade while Unilever (UNIL) accounted for 47.97% of the turnover. ETI, UNIL and UTB gained a pesewa each and no losses were recorded on Monday.

At the next session, the stock market gained more ground, recording a second straight win, following positive returns on Benso Oil Palm Plantation (BOPP) and Ghana Oil (GOIL) stocks. The GSE-Composite Index rose 0.18 points to close at 1,042.55 points. Downward movement in UTB drove the financial stock index 0.79 points lower, to close at 871.33 points. The turnover decreased from GHS0.25 million to GHS0.19 million though the trade volume more than double to 0.51 million shares. Standard Chartered (SCB) led the market in terms of value with 42.62%, while Aluworks (ALW) led in terms of volume, accounting for 86.15% of the shares traded. GOIL hit a record GHS0.56, up GHS0.01 from GHS0.55. BOPP also saw its share price go up but losses were recorded in ALW, UTB and the New Gold ETF (GLD).
In Wednesday’s session, the market benchmark recorded a third straight win, closing at 1,044.12 points, up 1.57 points from 1,042.55 points. The change brings the year-to-date return to 7.75%. The GSE-Financial Stock Index remained unchanged at 871.33 points as financial stocks stayed flat.
A total of 0.68 million shares were traded, 79.18% of which were ALW stocks. The turnover increased from GHS0.19 million on Tuesday to GHS0.27 million, with Fan Milk (FML) accounting for the largest share; 18.83%.
FML and UNIL hit a New year-highs of GHS3.00 and GHS8.37 respectively. ALW regained the pesewa it lost on Tuesday, closing at GHS0.05 from GHS0.04. On the downside, GOIL dropped from its GHS0.56 all-time high to close at GHS0.55. GLD also declined by 0.36% to close at GHS32.90.

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