Financial Stocks Outperform, GSE-FSI Sees 0.89% Weekly Growth
The Ghana Stock Exchange (GSE) last week demonstrated robust performance across its major indices, bolstered by strong gains in key equities. The GSE Composite Index (GSE-CI) advanced from 4,337 to 4,373 points, posting a weekly return of 0.81%, reversing the previous week’s loss of 0.50%. Year-to-date (YTD) performance inched higher to 39.70%, from 39.58% previously.
Meanwhile, the GSE Financial Stocks Index (GSE-FSI) recorded a notable rise, climbing from 2,118 to 2,137 points. This translated into a weekly return of 0.89%, a significant acceleration from the 0.02% growth seen in the prior period. The YTD return for financial stocks improved from 11.41% to 12.40%.
Total market capitalisation also experienced an uptick, growing to GHS 92.38 billion from GHS 91.83 billion. Despite the positive trajectory in indices and market value, trading volumes and overall market turnover saw a marked decline week-on-week.
Several blue-chip stocks demonstrated resilience, with MTN Ghana, Unilever Ghana (UNIL), and Total Ghana leading the charge. UNIL, in particular, is nearing an impressive 100% YTD return, underscoring its strong rally. Conversely, Société Générale Ghana (SOGEGH) saw a dip in performance, adding a note of caution for investors.
MTN Ghana continued to dominate trading activity, accounting for the highest volumes and values with 2.69 million shares traded, amounting to GHS 5.87 million. In comparison, Republic Bank Ghana (RBGH) traded 40,216 shares, with a total value of GHS 24,129.
While the broader market gains signal growing investor confidence, the slowdown in trading volumes suggests some caution in the market amidst the improving macroeconomic backdrop.
