Local bourse faces challenges with declines in GSE-CI and GSE-FSI
The Ghanaian stock market experienced a difficult week, with both the GSE-Composite Index and the GSE-Financial Stocks Index recording losses.
The GSE-Composite Index lost 2.06%, while the GSE-Financial Stocks Index lost 0.23%. Despite the decline, the year-to-date performance for the GSE-Composite Index remains positive at 12.33%, while the GSE-Financial Stocks Index remains negative at -11.98%.
The decline in the stock market was reflected in a decrease in market capitalization, which fell by 0.78% from the previous week to close at GH¢67.85 billion.
The week saw twenty-four equities trade, with some recording gains and others experiencing losses. BOPP, UNIL, and TBL recorded gains of GH¢1.06, GH¢0.40, and GH¢0.02, respectively.
Meanwhile, SOGEGH, MTNGH, FML, and GLD all experienced declines, losing GH¢0.04, GH¢0.05, GH¢0.21, and GH¢5.07, respectively.
The total volume of shares traded during the week was significantly lower than the previous week, with a decrease of 98.15%.
Trade turnover also decreased by 95.24%. The most traded equity by volume was MTNGH, representing 49.42% of the week’s traded value.
Despite the difficult week experienced on the local bourse by investors, investors remain optimistic about the future, and the government’s efforts to improve the economy are seen as positive steps.
