Total value traded on GSE soars over 1,600% in single trading session
The Ghana Stock Exchange (GSE) closed the day on a mixed note, as the benchmark index, the GSE-Composite Index, gained 16.28 points to close at 2,428.48 points, while the GSE Financial Stocks Index remained unchanged, ending the day at 1,983.51 points. This reflected a year-to-date (YTD) change of -0.63% and -3.37%, respectively.
The trading session saw some notable changes, with Fan Milk PLC (FML) losing GH¢0.23 to close at GH¢2.07, while Guinness Ghana Breweries Ltd. (GGBL) lost GH¢0.16 to close at GH¢1.52. Conversely, Scancom PLC. (MTNGH) gained GH¢0.02 to close at GH¢0.92.
Market capitalization on the GSE rose by GH¢169.87 million to close at GH¢64.50 billion, representing a marginal YTD change of -0.01%. The total traded volume increased by an impressive 943.97%, while the total value traded increased by an even more impressive 1610.86% compared to the previous trading session.
Transactions in GGBL topped the trading chart, with 2,000,028 shares valued at GH¢304,0047.04, representing 98.09% of the total value traded. This was followed by Cal Bank PLC. (CAL), which traded 65,985 shares valued at GH¢33,652.35, representing 1.09% of the total traded value.
Overall, the performance of the GSE can be viewed in the context of the broader macroeconomic situation in Ghana. The country’s economy has been recovering gradually from the impact of the COVID-19 pandemic, with real GDP growth estimated at 3.3% in 2020, down from the 6.5% recorded in 2019. This economic slowdown has had an impact on the performance of the stock market, with investors cautious about the potential risks and uncertainties that lie ahead.
Looking ahead, it will be interesting to see how the Ghanaian stock market performs in the coming weeks and months. While there are still challenges ahead, such as rising inflation and ongoing uncertainties around the pandemic, there are also signs of cautious optimism in some sectors of the economy. If this positive sentiment continues, we may see a gradual recovery in the performance of the GSE and other African stock markets in the near future.
