UNIL and GCB record gains; SIC suffers loss in latest trading week
The Ghana Stock Exchange (GSE) saw an uptick in the week ending April 30th, with both the GSE-Composite Index and the GSE-Financial Stocks Index showing gains. The former advanced by 0.21%, bringing its year-to-date performance to 12.18%, while the latter rose by 0.11%, although its year-to-date performance remained negative at -14.34%. Market capitalization also saw an increase of GH¢61.21 million from the previous week, reaching GH¢68.28 billion.
The trading week saw a total of 25 equities being traded, with gains being recorded by UNIL and GCB of GH¢0.40 and GH¢0.05 respectively. SIC, on the other hand, suffered a loss of GH¢0.01 for the second consecutive week, closing at GH¢0.25.
The total number of shares traded during the week was 917,967, cumulating to a value of GH¢1,114,391.05. This represents a 77.39% increase in volume and a 10.51% increase in value traded over the week. Of these shares, MTNGH accounted for the most traded volumes, valued at GH¢708,046.92, which represents 63.54% of the week’s traded value.
Despite the overall increase in market capitalization, some equities are still experiencing negative returns, such as the GSE-Financial Stocks Index. It remains to be seen whether this will change in the coming weeks or whether the Index will continue to lag behind the GSE-Composite Index.
Investors may be wise to exercise caution when making investment decisions, given the volatility of the market and the ongoing effects of the COVID-19 pandemic on the Ghanaian economy. Nonetheless, the recent gains seen on the GSE offer a glimmer of hope for investors and may signal a positive trend in the coming weeks.
