- Calbank Commands 75.41% Of GSE Volume as September 22 Trading Reaches GH¢3.24m
Trading on the Ghana Stock Exchange on Monday, September 22, was heavily concentrated in CalBank PLC and MTN Ghana, with the two counters accounting for the overwhelming majority of market activity.
A total of 1,957,736 shares changed hands across the Main Market and Ghana Alternative Market, generating total turnover of GH¢3.24m.
CalBank alone accounted for more than three-quarters of all shares traded, while MTN Ghana emerged as the largest contributor to trading value.
CalBank recorded volume of 1,476,232 shares valued at GH¢1.03m, representing approximately 75.41% of total market volume and 31.85% of turnover by value.
The bank’s share price declined by GH¢0.02 from GH¢0.72 to close at GH¢0.70, making it one of the session’s notable decliners.
The counter ended with a closing bid of GH¢0.68 and offer of GH¢0.69, indicating that selling pressure remained evident at the end of the session.
MTN Ghana generated the highest value traded despite accounting for a much smaller number of shares. A total of 189,886 MTNGH shares changed hands for GH¢1.27m, equivalent to about 39.12% of total market turnover, while the share price slipped GH¢0.01 to GH¢6.68.
Together, CalBank and MTN Ghana accounted for approximately 85.10% of total volume and 70.97% of total value traded, underlining how concentrated liquidity was during the session.
Kasapreko PLC was another relatively active counter, recording 99,977 shares valued at GH¢181,569.93.
The beverage company closed GH¢0.01 lower at GH¢1.82, having opened at GH¢1.83, with a closing bid of GH¢1.80. Its turnover represented about 5.11% of total market volume and 5.60% of total trading value.
SIC Insurance Company PLC also attracted meaningful activity, with 39,878 shares worth GH¢216,570.38 changing hands. The insurer closed unchanged at GH¢5.43, making it one of the larger value contributors outside CalBank and MTN Ghana.
ZEN Petroleum Holdings PLC followed with 16,946 shares traded at GH¢9.01, producing turnover of GH¢152,683.46.
GCB Bank PLC was among the sharpest price decliners during the session, falling GH¢0.79 from GH¢40.79 to close at GH¢40.00. Only 2,689 shares changed hands, but their relatively high unit price produced turnover of GH¢107,708.53.
The movement represented a decline of approximately 1.94%, making GCB’s price fall more pronounced than those recorded by most other Main Market counters.
Atlantic Lithium also closed lower, losing GH¢0.05 to end at GH¢5.30 after 1,132 shares were traded. The stock had previously closed at GH¢5.35 and recorded turnover of GH¢5,999.60 during Monday’s session. Its decline added to the broadly cautious price tone among several actively traded counters.
Ecobank Transnational Incorporated was one of the few Main Market gainers, rising GH¢0.02 from GH¢1.60 to close at GH¢1.62. The counter recorded volume of 21,297 shares worth GH¢34,741.24, providing one of the session’s positive price movements amid weakness in several other stocks. Most of the remaining Main Market securities that traded finished unchanged.
Activity on the Ghana Alternative Market provided additional gains. Intravenous Infusions PLC rose GH¢0.01 to GH¢0.53 after 65,636 shares changed hands for GH¢34,827.16, while Digicut Production & Advertising PLC advanced GH¢0.02 to GH¢0.42 on 20,001 shares worth GH¢8,400.41. Hords PLC closed unchanged at GH¢0.61 after 4,757 shares were traded.
Ordinary shares on the Main Market generated 1,866,325 shares and GH¢3.20mn in turnover, accounting for the vast majority of overall exchange activity.
AngloGold Ashanti Depositary Shares contributed another 1,015 units valued at GH¢466.90, while NewGold recorded just two units worth GH¢924.76.
The GAX counters added 90,394 shares and approximately GH¢46,129 to the session’s aggregate activity.
Several major counters recorded no trades despite remaining quoted on the market. Agricultural Development Bank, AngloGold Ashanti, Aluworks, Asante Gold, Cocoa Processing Company, First Atlantic Bank, Mega African Capital and Tullow Oil all ended the session without volume.
That uneven distribution reinforces the depth challenge that continues to characterise portions of Ghana’s equity market, where headline turnover can depend heavily on a small number of actively traded securities.
Monday’s trading therefore presented a market with relatively strong aggregate volume but highly concentrated liquidity. CalBank supplied roughly three out of every four shares traded, while MTN Ghana generated nearly four out of every GH¢10 in turnover value.
The two counters effectively set the tone for a session in which overall activity was substantial but broad-based participation remained limited.
The price pattern was also mixed rather than decisively directional. CalBank, GCB Bank, Kasapreko, MTN Ghana and Atlantic Lithium closed lower, while ETI, Intravenous Infusions and Digicut posted gains and most other traded securities finished unchanged.
For investors, the September 22 session therefore highlighted two continuing features of the GSE: liquidity remains concentrated in a handful of counters, while movements in those stocks can disproportionately shape the character of an otherwise broad market.
