Access Bank records 10 pesewas decline in share price value on bourse
In a modest turn of events, the Ghana Stock Exchange (GSE) experienced a marginal decline as the benchmark index, the GSE-Composite Index, concluded the trading day 1.60 points lower at 2,859.51 points. This performance translated into a year-to-date (YTD) return of 17.01%, reflecting a modest setback in market sentiment.
The Financial Stocks Index, however, demonstrated resilience, remaining unchanged at 1,682.29 points but bearing the weight of a negative YTD return of -18.04%.
Regrettably, the trading day failed to offer any respite as not a single equity managed to advance in price. However, one particular company, Access Bank Ghana PLC (ACCESS), continued to bear the brunt of market pressures, undergoing a two-week decline and shedding GH¢0.10 to close at GH¢3.40. This recent slump in Access Bank’s stock price further eroded the total market capitalization, which saw a decrease of GH¢17.39 million to settle at GH¢70.80 billion.
Across the market, a total volume of 23,806,264 shares, with an estimated value of GH¢812,997.46, changed hands across seventeen (17) equities. Taking the lead in terms of trading volume, Scancom PLC (MTNGH) accounted for 35,394 shares valued at GH¢48,135.84, representing a significant 47.86% of the total value traded. Following closely behind, Access Bank Ghana PLC (ACCESS) saw 7,205 shares traded at GH¢24,497.00, accounting for 24.36% of the total value traded.
Despite these figures, market participants must exercise caution in interpreting the current market performance, as it reflects a specific trading day’s activities and may not necessarily indicate the broader market trend. External factors, such as economic indicators and global market movements, can significantly influence the direction of the Ghanaian stock market.
Investors will be keenly observing future trading sessions to assess whether Access Bank Ghana PLC can reverse its declining trend, while also keeping a close eye on other equities that may present potential opportunities for growth.