Ghana Stock Exchange posts strong weekly gains

The Ghana Stock Exchange (GSE) closed last Wednesday’s trading session clearly in positive territory. This was driven by investor interest in major equities that also pushed the overall market higher

The GSE Composite Index (GSE-CI) rose 106.24 points, a 1.20 per cent gain, to close at 8,925.23 points. This kind of increment boosted the market’s year-to-date (YTD) return to 1.77 per cent.

The Ghana Stock Exchange (GSE) Financial Stocks Index (GSE-FSI) showed even stronger results, moving to 2.88 per cent to end at 4,833.05 points. This also improved its YTD return to 4.00 per cent.

Even though indices recorded solid gains, the overall market activity was relatively calm. The trading volume per cent fell 54.48 to 1.14 million shares. The total value traded went down to 48.42 per cent to GH¢4.56 million as compared to the previous session.

A lot of stocks recorded significant price increase. Again Enterprise Group (EGH) and GCB Bank was the biggest gainer and this is because it rose from GH¢2.62 and GH¢1.49 to close at GH¢28.87 and GH¢21.66, respectively.

Access Bank, Ecobank Transnational Incorporated (ETI), and First Atlantic Bank (FAB) each gained GH¢0.01 and Benso Oil Palm Plantation (BOPP) added GH¢1.39 to finish at GH¢60.00.

MTN Ghana took the lead in trading which accounted for the biggest portion with GH¢3.02 million in trades across 719,311 shares. This has made MTN the stock with the highest trading activity for this session. According to value, MTN was followed by Access Bank, First Atlantic Bank, Enterprise Group, and ETI.

The session highlighted the ongoing investor confidence, especially in financial and large-cap stocks. This as also extended the positive momentum the  Ghana Stock Exchange (GSE) has enjoyed since the start of the year. 

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