GSE Composite Index Inches Higher as Market Capitalisation Rises by GHS 39.26m Amid Sluggish Trading Activity
The Ghana Stock Exchange (GSE) Composite Index advanced by 3.16 points to close at 6,414.88 points, pushing its Year-To-Date (YTD) return to 31.22%. However, the Financial Stock Index (FSI) declined by 10.52 points to settle at 3,429.87 points, despite maintaining an impressive YTD return of 44.06%.
The market’s overall capitalisation increased by GHS39.26 million, reaching GHS139.38 billion. Despite this uptick in market value, trading activity witnessed a significant decline. A total of 399,073 shares exchanged hands during the session, representing a sharp 78.38% drop compared to the previous day’s volume. The total value of shares traded amounted to GHS3,040,330.66.
Equity price movements were mixed. Ecobank Ghana (EGH) and MTN Ghana (MTNGH) posted gains, closing at GH¢8.74 and GH¢3.00, respectively. On the other hand, GCB Bank (GCB) saw its share price fall to GH¢9.50.
GCB emerged as the most traded equity for the day, recording a total volume of 214,090 shares valued at GH¢2,035,116.60. MTNGH, EGH, CAL Bank (CAL), and Access Bank Ghana (ACCESS) rounded out the top five most actively traded stocks in descending order of volume.
Market analysts attribute the sharp fall in trading activity to cautious investor sentiment as the market awaits further corporate earnings announcements for the second quarter of the year.
