GSE-CI Closes Higher With 51.3% Returns on Equities as Ghana Votes on Saturday
The Ghana Stock Exchange (GSE) witnessed a significant surge in trading activity ahead of Saturday’s general elections. The volume of shares traded on the local bourse skyrocketed by 2,031.69% at the close of trading on Thursday, December 5, compared to last week’s levels.
Similarly, trade turnover saw a sharp increase of 911.14% within the same period.
Market capitalization rose to GHS 109.2 billion from GHS 108.3 billion last week, reflecting positive investor sentiment. The GSE Composite Index (GSE-CI) climbed 0.94% to close at 4,738 points, outperforming last week’s 0.62% gain.
The GSE Financial Stock Index (GSE-FSI) also advanced 0.72% to 2,368 points, with a year-to-date (YTD) return of 24.54%.
Ecobank Transnational Incorporated (ETI), on Thursday, extended its three-month rally to close at GH¢0.31. MTN Ghana (MTNGH) also recorded a gain, closing at GH¢2.40.
However, Atlantic Lithium Ghana (ALLGH) and NewGold ETF (GLD) experienced declines, closing the week at GH¢6.13 and GH¢388.59 respectively.
CAL Bank led trading activity, with 14,944,116 shares exchanged at a total value of GH¢5,080,999.44. ETI, on the other hand, was the least traded among the top five, with 7,453 shares worth GH¢2,285.90.
The impressive trading figures underscore heightened market activity as investors position themselves amidst pre-election dynamics.
