GSE records 10.93% returns for investors
The Ghana Stock Exchange witnessed a modest upswing on the latest trading day, as the benchmark GSE-Composite Index rose by 0.21 points to close at 2,710.96 points. This represents a year-to-date (YTD) change of 10.93%, reflecting the improving sentiment among investors in Ghana’s equity market. However, the GSE Financial Stocks Index remained unchanged at 1,855.33 points, with a YTD return of -9.61%, indicating that the gains were largely driven by other sectors.
Despite the mixed performance of the indices, Total Energies Marketing Ghana PLC (TOTAL) managed to post gains on the trading day, closing at GH¢6.38 after gaining GH¢0.02. The positive movement in the shares of TOTAL provided a glimmer of hope for the struggling financial sector, which has been mired in negative returns for most of the year. Meanwhile, market capitalization rose by GH¢2.24 million to end the trading day at GH¢67.45 billion, which represents a YTD change of 4.57%.
The trading volume on the latest trading day was relatively high, with a total of 345,075 shares being traded across thirteen (13) counters. This represents a 103.19% increase in volume compared to the previous trading session, suggesting that investors are becoming increasingly active in the market. The total value of shares traded on the day was GH¢471,730.95, a 101.49% increase from the previous trading day, underscoring the growing confidence among market participants.
Notably, Scancom PLC (MTNGH) emerged as the most active counter on the day, trading 311,574 shares valued at GH¢373,888.80, which represents a staggering 79.26% of the total value traded. This is a testament to the growing popularity of MTNGH, which has been one of the most sought-after stocks on the exchange in recent times. Following MTNGH, Cal Bank PLC (CAL) was the second-most active counter on the day, trading 10,900 shares valued at GH¢5,450.00, representing 1.16% of the total value traded.
Looking ahead, the Ghanaian equity market is expected to maintain its positive momentum, driven by a combination of factors such as the improving economic outlook, rising investor confidence, and the ongoing vaccination campaign against the COVID-19 pandemic. However, there are still risks that could hamper the market’s performance, including the possibility of a resurgence of the virus, rising inflation, and geopolitical tensions. As always, investors are advised to exercise caution and seek professional advice before making any investment decisions.
