GSE turns bullish as returns on equities hit 20%
The Ghana Stock Exchange displayed signs of resilience as the GSE-Composite Index during Thursday’s trading session witnessed a modest yet significant surge of 0.41 points, ultimately settling at an impressive 2,932.76 points at the close of trading. This commendable performance translates into a remarkable Year-to-Date (YTD) return of 20%, signaling a bullish turn for the stock market and favorable conditions for investors.
While the broader market demonstrated a notable upward trajectory, the Financial Stocks Index, in contrast, remained steady and unchanged at 1,715.17 points, contributing to a YTD return of -16.44%. This divergence in sector performance underscores the inherent volatility and diversity characterizing the Ghanaian equity landscape.
TotalEnergies Marketing Ghana Plc. (TOTAL), one of the key players in the market, exhibited notable resilience and gained GH¢0.04, culminating in a closing price of GH¢6.76. This upward movement could be indicative of the company’s strategic initiatives, effectively positioning itself to seize growth opportunities in the market.
Remarkably, the trading session experienced a rare occurrence, with no recorded decliners, underlining the robustness of market sentiment and the current investor optimism pervading the Ghanaian stock market.
Total market capitalization, another critical metric reflecting the overall value of listed companies, registered a marginal upswing, concluding the trading day at GH¢71.60 billion. This incremental growth of GH¢4.47 million showcases the market’s ability to generate value amidst prevailing economic conditions.
In terms of trading activity, a total volume of 12,287 shares exchanged hands, amounting to a total value of GH¢25,564.48, encompassing trades across twelve (12) equities. Notably, Cal Bank PLC. (CAL) emerged as the most actively traded stock, commanding an impressive 75.60% of the total value traded during the session.
TotalEnergies Marketing Ghana Plc. (TOTAL) secured its prominence as the second most traded stock, witnessing the exchange of 2,859 shares valued at GH¢19,326.84, reflecting the market’s keen interest in this particular equity.
Other notable stocks in focus include RGBH, ETI, and MTNGH, which together accounted for 5,214 shares valued at GH¢3,320.59. Although trading activity displayed resilience, volumes observed during the session were relatively lower compared to previous days, signaling a potential pause in investor activity.
The equities market showcased a mixed but overall promising performance during the latest trading session. The incremental gains in the GSE-Composite Index, coupled with the notable performance of key stocks, hint at the underlying potential in the market, enticing investors with attractive YTD returns.
Nevertheless, market participants remain cautious amid lingering uncertainties and are advised to exercise prudence and comprehensive due diligence in navigating the ever-evolving financial landscape.
