GSE: MTNGH leads trading activity; accounts for 97% of total traded value
The Ghana Stock Exchange (GSE) experienced a challenging week as both the GSE-Composite Index and GSE-Financial Stocks Index declined by 2.74% and 0.49% respectively. This week’s performance brings the year-to-date performance of the GSE-Composite Index to 9.78% while the GSE-Financial Stocks Index shows a negative performance of -12.41%.
Furthermore, market capitalization decreased by -1.16% from the previous week, closing at GH¢67.17 billion. This indicates a decrease in the overall value of the stock market, which is a cause for concern for investors.
During the week, a total of 21 equities were traded on the Ghana Stock Exchange, with MTNGH and EGL recording declines of GH¢0.06 and GH¢0.30 respectively. However, the trading week saw no gainers, which is indicative of a bearish market sentiment.
Despite this, there was a significant increase in both the volume and value of shares traded over the week, with a 932.11% increase in volume and a 543.20% increase in value. A total of 3,745,503 shares were traded, amounting to a value of GH¢4,494,334.19. MTNGH accounted for the majority of the week’s traded value, representing 97.49% of the total traded value.
This increase in trading activity suggests that there was still significant investor interest in the Ghanaian stock market, despite the overall bearish sentiment. However, the decline in stock prices and market capitalization indicates that there are still underlying concerns about the state of the economy and the stock market in Ghana.
Overall, the Ghanaian stock market experienced a challenging week, with declines in stock prices and market capitalization. Despite this, the increase in trading activity suggests that there is still investor interest in the market, and it remains to be seen how the stock market will perform in the coming weeks. Investors will be keeping a close eye on the economic indicators and the performance of individual stocks to make informed investment decisions in the Ghanaian stock market.
