GLD, UNIL, and GGBL lead weekly gainers with significant price increases
The Ghana Stock Exchange (GSE) Composite Index experienced an appreciable rise of 21.57 points, marking a 0.57% week-on-week increase, to close at 3,788.84 points.
The rise in the composite index contributes to a robust year-to-date (YTD) gain of 21.04%.
In contrast, the GSE Financial Stock Index remained static, holding firm at 2,097.73 points, with a YTD return of 10.32%.
Leading the pack of gainers were Ghana’s GLD, UNIL, and GGBL. NewGold (GLD) led with a substantial increase of GH¢3.00, closing at GH¢345.50.
UNIL followed with a GH¢1.43 rise to end the week at GH¢13.43, while GGBL saw a modest uptick of GH¢0.04, settling at GH¢4.40.
Notably, this week recorded no decliners, suggesting a buoyant market sentiment.
The overall market valuation rose by GH¢249.69 million, culminating in a total market capitalization of GH¢84.54 billion.
Despite this positive valuation shift, trade turnover witnessed a decline, characterized by a significant drop in trading volumes. This dip in activity contrasts with the market’s rising value, indicating a potential concentration in high-value trades over the period.
MTNGH emerged as the dominant force in the market, topping both the volume and value traded charts. UNIL followed, trading 23,728 shares with a total value of GH¢317,289.29.
Other significant players included FML, GGBL, and CAL, which trailed MTNGH and UNIL in the weekly trade activity rankings.
This week’s performance underscores the resilience of the GSE Composite Index amidst a mixed trading environment. The absence of decliners and the rise in key stocks like GLD, UNIL, and GGBL reflect an underlying strength in specific sectors, even as overall trading activity slows.
The steady performance of the Financial Stock Index suggests stability within financial sectors, providing a balanced view of the market dynamics for the week.
