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Total Energies dominates trading activity on GSE

2 years ago
in Business, Features, highlights, Home, home-news, latest News, Markets
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Total Energies dominates trading activity on GSE

The Ghana Stock Exchange (GSE) saw a negative performance in its benchmark index, the GSE-Composite Index, losing 2.23 points to close at 2,412.20 points, representing a year-to-date change of -1.30%. This decline in the benchmark index is indicative of a bearish trading session in which the market experienced a broad sell-off.

Furthermore, the GSE Financial Stocks Index recorded no change to end the day with 1,983.51 points, representing a year-to-date return of -3.37%. The GSE Financial Stocks Index tracks the performance of financial stocks on the exchange, and its lack of movement suggests that financial stocks did not experience any significant gains or losses during the trading session.

In terms of individual stocks, Fan Milk PLC (FML) was the sole decliner, losing GH¢0.20 to close the day at GH¢2.30. This decline in share price may be attributed to several factors, including negative news flow, low trading volumes or wider market movements that may have affected investor sentiment.

Additionally, market capitalization dipped by GH¢23.25 million to end the day at GH¢64.35 billion, representing a year-to-date change of -0.27%. Market capitalization is a measure of the total value of all the listed companies on the exchange, and the decrease in market capitalization further underscores the bearish trading sentiment in today’s session.

With regard to trading activity, a total of 14,692 shares valued at GH¢28,890.97 traded across ten counters, representing a 24.33% decrease in total volume traded compared to the previous session. However, the total value traded increased by 12.33%, which suggests that investors were trading in higher-priced stocks during the session.

Notably, transactions in Total Energies Marketing Ghana Plc. (TOTAL) topped the trading chart, with 4,155 shares valued at GH¢19,203.35, representing 66.47% of the total value traded. This was followed by Scancom PLC (MTNGH) which traded 3,324 shares valued at GH¢2,991.60, representing 10.35% of the total traded value.

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Overall, Tuesday’s trading session on the Ghana Stock Exchange was characterized by a negative market sentiment as reflected in the decline of the benchmark index and the sole decliner of the day. Nevertheless, trading volumes were relatively low, which may suggest that investors remained cautious in light of broader economic uncertainties, both domestic and international, which continue to impact market performance.

Tags: GSETotal EnergiesTotal Energies dominates trading activity on GSE
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