Mixed fortunes for Ghanaian equities as trade turnover surges by 215%
The Ghanaian Stock Exchange has experienced a week of mixed fortunes, with the GSE-Composite Index and GSE-Financial Stocks Index both losing ground. The former slipped by 1.59%, while the latter tumbled by 4.92%, leaving year-to-date performances at -2.34% and -8.12%, respectively. Meanwhile, market capitalization fell by -0.64% from the previous week to GH¢64.02 billion.
During the week, twenty-three equities were traded, with a range of performances. TOTAL, UNIL, and MTNGH made modest gains, with each recording increases of GH¢0.84, GH¢0.27, and GH¢0.01, respectively. These increases, however, were offset by losses sustained by GOIL, EGL, FML, SCB, EGH, and GLD, with each recording declines of GH¢0.03, GH¢0.20, GH¢0.27, GH¢0.95, GH¢1.24, and GH¢3.20, respectively.
GAINERS & DECLINERS
| Ticker | Close Price (GH¢) | Open Price (GH¢) | Price Change (GH¢) | Y-t-D Change |
| TOTAL | 5.00 | 4.16 | 0.84 | 25.00% |
| UNIL | 2.99 | 2.72 | 0.27 | -22.94%| |
| MTNGH | 0.93 | 0.92 | 0.01 | 5.68% |
| GOIL | 1.65 | 1.68 | -0.03 | -4.07% |
| EGL | 3.00 | 3.20 | -0.20 | -6.25% |
| FML | 1.80 | 2.07 | -0.27 | -40.00% |
| SCB | 19.00 | 19.95 | -0.95 | -5.75% |
| EGH | 3.00 | 3.20 | -1.24 | -18.67% |
| GLD | 229.00 | 232.20 | -3.20 | 5.14% |
A total of 441,791.00 shares were traded, representing a decrease of -81.14% in volume traded compared to the previous week. Nevertheless, trade turnover increased by 215.78% to GH¢14,337,999.62. A noteworthy outlier was GLD, which traded at a value of GH¢13,904,964.00, representing 96.98% of the week’s traded value.
TOP TRADED EQUITIES
| Ticker | Volume | Value (GH¢) |
| MTNGH | 249,406 | 231,643.54 |
| CAL | 64,365 | 32,826.15 |
| GLD | 61,616 | 13,904,964.00 |
| GOIL | 16,271 | 26,973.52 |
| ETI | 13,493 | 2,023.95 |
Looking at the broader picture, the mixed performance of the GSE-Composite Index and GSE-Financial Stocks Index, and the overall decline in market capitalization, suggest that investors remain cautious about the future direction of the Ghanaian economy. Several factors could be contributing to this uncertainty, including rising inflation, high levels of public debt, and ongoing challenges in the country’s energy sector.
One factor that may be influencing investor sentiment is the global economic context, particularly the impact of the ongoing COVID-19 pandemic. Although Ghana has managed to limit the spread of the virus better than many other countries in the region, the global economic disruption caused by the pandemic continues to have ripple effects across the economy.
Despite these challenges, however, there are some signs of hope. The recent uptick in trade turnover suggests that there are still opportunities for investors in the Ghanaian market, particularly for those who are willing to take a longer-term view. With the country’s relatively young and rapidly growing population, and a number of promising sectors, such as technology and agriculture, there is reason to believe that the Ghanaian economy could be poised for growth in the years ahead.
