GSE: Market capitalization increases by GHS 402m in latest trading session
In the latest trading session of the Ghana Stock Exchange (GSE), the benchmark index, GSE-Composite Index, surged 38.53 points to close at 2,518.06 points, resulting in a year-to-date (YTD) change of 3.03%. Meanwhile, the GSE Financial Stocks Index remained unchanged at 1,884.87 points, indicating a YTD return of -8.17%.
The market was largely dominated by gainers, with Benso Palm Plantation PLC (BOPP) leading the pack, with a gain of GH¢0.96 per share, closing at GH¢10.61, while Scancom Plc. (MTNGH) gained GH¢0.03 to close at GH¢1.03 per share. It is worth noting that there were no decliners in this trading session.
Market Capitalization rose by GH¢402.12 million, ending the trading day at GH¢65.39 billion, representing a YTD change of 1.37%. However, the total volume traded in the session dipped by 99.82% to 5,699 shares, while the total value traded also fell by 99.13% to GH¢28,631.85, compared to the previous trading session.
Breaking down the trades, transactions in BOPP and MTNGH topped the trading chart, with 2,000 shares each valued at GH¢21,220.00 and GH¢5,351.85 respectively. Interestingly, BOPP’s value represented a staggering 74.11% of the total value traded, while MTNGH’s value traded constituted 7.19% of the total value traded.
The market participants were likely spurred by the impressive gains of the benchmark index and gainers. The positive market sentiment was further supported by the increase in Market Capitalization, which provides a general indication of the value of the companies traded on the stock exchange. The rise in Market Capitalization is also an indication of the positive outlook on the market, suggesting that the market is likely to continue its upward trend.
Overall, the Ghanaian stock market seems to be on a path of recovery, with the benchmark index gaining traction and Market Capitalization increasing. However, the dip in volume and value traded in the latest trading session compared to the previous one could raise concerns. It remains to be seen whether the upward trend will be sustained, and market participants would be watching with keen interest to see the next moves in the Ghanaian stock market.
