GLD and GGBL Lead Market Surge with Significant Price Increases
Trading activity on the Ghana Stock Exchange (GSE) on Monday led to the composite index increasing to 4,453.74 points, marking a year-to-date (YTD) return of 42.28%.
This shows a slight improvement from the previous YTD return of 41.87% witnessed last week Friday. The financial stocks index remained stable at 2,115.52 points, with the YTD return holding steady at 11.25%.
Market capitalization of the local bourse saw an increase, reaching GH₵92,934.01 million, up from GH₵92,784.46 million, driven by gains in two stocks. The price of GLD rose by GH₵2.73, reaching GH₵370.53, resulting in a YTD gain of 69.6%. GGBL’s price also increased by GH₵0.46, closing at GH₵5.16.
The trading volume saw a significant surge of 123.07%, rising from 55,020 shares to 122,735 shares. Similarly, the value of traded shares increased by 135.06%, from GH₵126,246.43 to GH₵296,758.83.
Sixteen different stocks were traded, with FML leading the trading activity, recording a volume of 314,372 shares valued at GH₵1,100,302.00. CAL also saw 27,406 shares traded, with a total value of GH₵9,318.04.
Monday’s trading performance reflects investor confidence and growing activity on the GSE, particularly with the substantial gains in specific stocks like GLD and GGBL. The steady financial stocks index suggests stability in that sector, while the overall market shows robust growth.
