GSE: Volume of equities traded on local bourse rise by 356% week-on-week
In a week characterized by notable market activity, the Ghana Stock Exchange (GSE) witnessed a surge in the volume of shares traded, marking a significant jump of 356% when compared to the previous week. A total of 24,420,319 shares exchanged hands, culminating in a total value of GH¢1,453,951.29. However, despite the increased trading volumes, the value traded experienced a sharp decline of 81.17% week-on-week.
Notably, Hords Ltd. (HORDS) emerged as the leader in trading volumes, accounting for a staggering 49.00% of the total traded value this week, amounting to a substantial ¢712,426.83.
Among the twenty-six equities that were traded, some witnessed positive movements. TOTAL and SOGEGH demonstrated strength, appreciating by GH¢0.58 and GH¢0.06, respectively, to close at GH¢6.70 and GH¢0.67. Conversely, SIC, MTNGH, and ACCESS experienced a downward trend, shedding GH¢0.02, GH¢0.09, and GH¢0.25, respectively, ending the week at GH¢0.21, GH¢1.36, and GH¢3.35.
In terms of market indices, the GSE-Composite Index experienced a notable regression, declining by 3.51%, while the GSE-Financial Stocks Index witnessed a more modest decline of 0.05%. This brings their respective year-to-date performances to 17.12% and -17.79%, reflecting the ongoing volatility and uncertainty in the market.
Furthermore, the week saw a significant slump in market capitalization, with a staggering decline of GH¢1,131.22 million from the previous week. As a result, the market capitalization currently stands at GH¢70.83 billion, highlighting the challenges faced by investors and the broader market.
As market participants continue to navigate through turbulent times, the volatility in trading volumes and the decline in market capitalization serve as a stark reminder of the inherent risks and uncertainties prevalent in the country’s financial landscape. Investors will closely monitor future developments, seeking opportunities amidst the evolving market conditions.
