GSE market capitalisation reaches GHS 70.2bn
Market capitalization of the Ghana Stock Exchange (GSE) has risen to GH¢70.22 billion despite a recent decline in its benchmark index. On Thursday, the GSE-Composite Index experienced a slight setback, losing 2.72 points to close at 2,806.67 points. However, market observers were quick to note that this decline did not deter the overall market value of the Exchange.
With a year-to-date return of 14.84%, the GSE-Composite Index had been showing promising gains prior to this dip. Meanwhile, the GSE Financial Stocks Index, which dipped by 5.13 points to close at 1,689.34 points, has seen a YTD return of -17.70%. This downward trajectory raises concerns about the performance of financial stocks within the Ghanaian market.
Despite the mixed fortunes reflected in the index movements, trading activity on the exchange remained steady. A total of 58,522 shares, valued at GH¢63,756.79, exchanged hands across twenty equities. SIC Insurance Company Ltd. (SIC) dominated the volume chart with 31,749 shares traded, amounting to GH¢7,302.27 and representing 11.45% of the total value traded. Notably, Access Bank Ghana PLC. (ACCESS) accounted for a significant portion of the total value traded, with 10,013 shares valued at GH¢38,049.74, making up 59.68% of the total value.
Unfortunately, the trading day failed to bring any price gains for investors. Access Bank Ghana PLC. (ACCESS) experienced a decline of GH¢0.17, concluding the day at GH¢3.80.
The rise in market capitalization amidst a decline in benchmark index underscores the diversity and resilience of the Ghana Stock Exchange. Although financial stocks experienced setbacks, the overall market value demonstrated stability, potentially indicating that investors have found alternative avenues for growth within the Ghanaian market. As market participants closely monitor these developments, attention now turns to future trading sessions to gauge the trajectory of the exchange and the potential for recovery in financial stocks.
