- Trading Volume Rises While Value Traded Slips on the GSE
The Ghana Stock Exchange recorded a sharp rise in the number of shares traded on Friday, November 6, but the total value of transactions declined as activity became heavily concentrated in Kasapreko PLC.
A total of 2,928,322 shares changed hands across the market, with a combined value of GH¢6.32 million. The volume was almost three times the 996,583 shares recorded in the previous session, while total value traded fell from GH¢6.96 million to GH¢6.32 million.
Kasapreko was the defining counter of the session. Investors traded 2,401,888 of its shares, worth GH¢4.29 million. That represented about 82 per cent of total shares traded and nearly 68 per cent of the market’s total value. Yet the share price fell by GH¢0.05, or 2.73 per cent, to GH¢1.78.
The contrast between rising volume and falling value points to a market where more shares changed hands, but trading was concentrated in a relatively low-priced stock. Kasapreko’s large transaction count did not translate into a higher overall value for the exchange.
The day’s price movements were mixed. Seven equities advanced, five declined and the rest of the actively listed counters were unchanged. T
he strongest percentage gains were recorded by Dannex Ayrton Starwin, up 9.47 per cent to GH¢1.04; Cocoa Processing Company, which rose 8.89 per cent to GH¢0.49; and Digicut Production & Advertising, up 6.06 per cent to GH¢0.35.
CalBank advanced by GH¢0.02, or 2.74 per cent, to GH¢0.75. Intravenous Infusions gained 3.70 per cent to GH¢0.56, Scancom rose 0.92 per cent to GH¢6.58, while GCB Bank edged up by GH¢0.01 to GH¢42.00.
The session’s biggest losses were recorded by Fan Milk and Ghana Oil Company. Fan Milk fell GH¢0.95, or 6.81 per cent, to GH¢13.00, while GOIL dropped GH¢0.30, or 5.45 per cent, to GH¢5.20. Kasapreko declined 2.73 per cent, and SIC Insurance shed GH¢0.05, or 1.06 per cent, to GH¢4.65. Ecobank Transnational also slipped GH¢0.01 to GH¢1.39.
Fan Milk’s decline was the largest in cedi terms among the counters that fell. Its GH¢0.95 drop was notably wider than the changes recorded elsewhere, although the trading list does not provide a reason for the move. The share closed at GH¢13.00, with no closing bid shown and an offer price of GH¢13.00.
GOIL also ended lower after 10,031 shares worth GH¢52,233.80 were traded. Its closing price of GH¢5.20 was GH¢0.30 below the previous closing price. Kasapreko’s much larger volume and value, meanwhile, meant its price decline occurred amid the day’s most substantial concentration of market activity.
CalBank was the next largest counter by value traded, with 160,653 shares worth GH¢119,581.84. Its price gained two pesewas to GH¢0.75. Scancom recorded 179,930 shares worth GH¢1.18 million, and its closing price rose six pesewas to GH¢6.58.
The activity in these two stocks provided some of the session’s most visible support among the larger-volume counters outside Kasapreko.
The market also saw notable gains in smaller-priced shares. Cocoa Processing Company rose from GH¢0.45 to GH¢0.49 on trading worth GH¢9,834.30. Dannex Ayrton Starwin gained nine pesewas to GH¢1.04, with GH¢6,606.95 worth of shares traded. Digicut rose from GH¢0.33 to GH¢0.35, while Intravenous Infusions advanced from GH¢0.54 to GH¢0.56.
Those percentage increases were large relative to the share prices, but the trading values in these counters remained modest compared with the day’s biggest transactions.
The distinction matters: a strong percentage change in a low-priced share does not necessarily signal broad market strength, particularly where the value traded is limited.
Among the banking stocks, GCB Bank was nearly unchanged, rising one pesewa to GH¢42.00 on GH¢324,587.28 of trading. Ecobank Ghana held at GH¢36.65, though only 10 shares were recorded.
Republic Bank remained at GH¢4.00, while Access Bank Ghana closed unchanged at GH¢20.79. Agricultural Development Bank and First Atlantic Bank recorded no trades.
Trading activity was similarly selective across several established counters. Standard Chartered Bank Ghana recorded one share traded at GH¢69.87. Unilever Ghana traded 217 shares at GH¢43.00, while Benso Palm Plantation recorded seven shares at GH¢70.00. A number of listed companies recorded no transactions during the session, underlining the uneven distribution of market participation.
The Ghana Alternative Market contributed 81,181 shares valued at GH¢45,776.40 to the overall total. Intravenous Infusions and Digicut advanced, while Hords remained unchanged at GH¢0.75.
Meridian Marshalls Holding Company and Samba Foods recorded no trades. The NewGold exchange-traded fund, preference shares and AngloGold Ashanti depositary shares also recorded no transactions.
Friday’s list therefore presents a market with pockets of strong activity and selective price gains, but with trading value concentrated in a single counter and losses in several stocks.
The increase in share volume suggests a busier session by count, while the fall in total value shows that the added activity did not broaden into a higher-value market day.
For investors, the session offers a reminder to look beyond headline share volumes. Kasapreko’s trading represented most of the day’s turnover, while many listed companies recorded little or no activity.
The performance of individual stocks was also sharply divided, from gains in DASPHARMA, CPC and CAL to losses in Fan Milk, GOIL and KASA.
The next session will show whether Friday’s activity represents a sustained shift in participation or a concentrated burst of trading. Until then, the day’s results point to selective buying and selling rather than a uniformly directional market.
