GSE: MTN Ghana leads gainers on local bourse for H1 2021
MTN Ghana stocks lead the pack of equity gainers on the local bourse for the first half of 2021.
MTN Ghana for the second quarter dominated trading activity on the Ghana Stock Exchange (GSE) just as was the case in the first quarter of this year.
According to Asset Management Company (AMC), Tesah Capital, MTN Ghana cumulatively gained 87.5 percent in stock price appreciation for the first half of 2021.
Following MTN Ghana in second place is Societe Generale with a cumulative price gain of 43.8 percent,
In third and fourth place were Guinness Ghana and GCB with 43.3 percent and 33.3 percent respectively.
Unilever Ghana led the pack of losers on the bourse posting a 59.8 percent decline in stock price for the first half of 2021.
Banks such as Ecobank, Access Bank and Ecobank Transnational International (ETI) for the review period also posted declines in its stock prices for H1 2021.
According to Tesah Capital, MTN Ghana’s lead in stock price appreciation is on the account of the high demand for MTN stocks as shares of the telecommunication giant accounted for 81.79 percent of total trading volume on the bourse for H1 2021, emerging as the most traded stock.
The AMC, in its Ghana Economy Review report for the first half of 2021, further asserts that the GSE-Composite Index ended June 2021 with 2,643 points – an increase of 708 points – recording a year-to-date (YTD) return of 36.10 percent in dollar terms and 36.16 percent in Ghana cedis terms on stock prices.
The total value of traded stocks on the bourse, the AMC notes amounted to Ghs 307.5 million, recording a YTD of 58.53 percent.
The market capitalisation of the stock market as at end-June 2021, Tesah Capital notes, stood at some Ghs 61 billion indicating a YTD increase of 12.79 percent in the exchange’s market capitalisation.
