Benchmark Index climbs to 4,320 points; returns on shares increase to 38%
The Ghana Stock Exchange (GSE) witnessed a significant surge in the GSE Composite Index, which climbed 233.53 points (5.71% week-on-week) to close at 4,320 points, marking an impressive year-to-date gain of 38.01%.
Not all investors are enjoying the year-to-date gain of 38.01% on shares, but only those who bought equities from the beginning of this year.
What it therefore means is that, if for instance, an investor bought equities worth GHS 1,000 at the beginning of the year, the current value of his or her equities is GHS 1,380.
Hence, that investor has gained an additional GHS 380 to the initial GHS 1,000 invested from the beginning of the year.
The GSE Financial Stock Index also demonstrated robust performance, advancing to 2,089.63 points, reflecting a year-to-date return of 9.89%.
Key performers of the week included:
– GLD: Rose by GH¢7.63 to GH¢367.15
– MTNGH: Increased by GH¢0.19 to GH¢2.20
– GCB: Gained GH¢0.10 to GH¢5.60
– SCB: Up by GH¢0.05 to GH¢20.05
These upward movements propelled the market’s total capitalization by GH¢2,570.24 million, reaching a new high of GH¢91.45 billion.
Despite these gains, trade turnover experienced a notable decline on a week-on-week basis, accompanied by a reduction in trading volumes.
MTNGH dominated the trading week, leading both in volume and value. EGL followed as the second most traded stock, with 4,828,115 shares changing hands, valued at GH¢47,256,011.64.
EGH, IIL, and CAL also featured prominently in the week’s trading activity.
Market activity witnessed over the week underscores the resilience of key equities and investor confidence in the Ghanaian market, despite the observed dip in trade turnover.
