Fanmilk only decliner in “quiet day” on Ghana Stock Exchange
On the trading day of April 5th, 2023, the Ghana Stock Exchange experienced a slight drop in the GSE-Composite Index, closing at 2,758.42 points, down 1.22 points from the previous day. This represents a year-to-date change of 12.87%, indicating a gradual decrease in the value of the index over the course of the year.
Meanwhile, the GSE Financial Stocks Index remained unchanged, closing at 1,806.67 points with a year-to-date return of -11.98%.
Notably, only one decliner was observed on this trading day in Fanmilk PLC (FML), which experienced a decrease in value of GH¢0.11 to close at GH¢1.06. No gainers were observed during the trading day, resulting in a decrease in market capitalization of GH¢12.78 million to end the day at GH¢67.96 billion.
In terms of market activity, volume and value traded saw a decline compared to the previous trading day. A total of 39,330 shares were traded at a value of GH¢58,476.48 across twelve equities, representing a decrease of 73.60% in total volume traded and a decrease of 79.75% in total value traded.
Transactions in Scancom PLC (MTNGH) topped the trading chart with 29,316 shares valued at GH¢36,938.16, representing 63.17% of the total value traded. This was followed by Fanmilk PLC (FML), which traded 4,663 shares valued at GH¢4,942.78, representing 8.45% of the total value traded.
The overall performance of the Ghana Stock Exchange on this particular trading day suggests that investors were hesitant to make significant moves in the market, possibly due to uncertainty regarding economic and political conditions in Ghana and the wider global context. The gradual decline in the GSE-Composite Index over the course of the year may also indicate broader concerns about the future of the Ghanaian economy and its prospects for growth.
As always, market participants will continue to closely monitor market conditions and economic indicators to make informed decisions about investment strategies in the coming weeks and months.
