Local Bourse Opens Week Flat Despite Surge in Trading Volumes
The Ghana Stock Exchange began the week on a subdued note, with the benchmark Composite Index holding steady at 7,172.44 points. The gauge has risen 46.72 per cent since the start of the year, extending one of the strongest rallies among frontier African markets.
The Financial Stock Index was similarly unmoved, closing at 3,444.30 points, up 44.67 per cent year-to-date. Market capitalisation remained unchanged at GH¢147.7bn.
Despite the lack of price movement, trading activity picked up sharply. Volumes rose almost 100 per cent from the previous session, with 4.4mn shares worth GH¢32.4mn exchanging hands. MTN Ghana dominated the day’s activity, accounting for more than 95 per cent of total volumes traded. Ecobank Transnational Incorporated, SIC Insurance, Republic Bank Ghana and CalBank followed distantly.
No stock recorded gains or losses, underscoring the cautious tone in the market.
The calm start to September contrasts with August’s performance, when the Composite Index gained 338 points month-on-month. The rally took year-to-date returns close to 50 per cent, although trading volumes and turnover slumped sharply during the month.
Looking ahead, investors are awaiting upcoming dividend payments from listed firms. MTN Ghana will distribute an interim dividend of GH¢0.08 per share on September 11, while GOIL and Standard Chartered Bank’s preference shares are also scheduled to make payouts this month.
