Unilever Ghana gains; MTN, Fan Milk experience declines
On the trading day of March 31, 2023, the Ghana Stock Exchange experienced mixed results, with the benchmark index, the GSE-Composite Index, declining by 92.83 points to close at 2,707.79 points, a decrease of 10.80% year-to-date. Meanwhile, the GSE Financial Stocks Index remained unchanged, closing at 1,806.67 points with a year-to-date return of -11.98%.
Unilever Ghana PLC (UNIL) was among the few gainers, adding GH¢0.36 to close at GH¢3.96. However, Scancom PLC (MTNGH) and Fan Milk PLC (FML) both experienced declines, with MTNGH shedding GH¢0.08 to close at GH¢1.22 and FML losing GH¢0.07, closing at GH¢1.43. The price of GLD also declined, with GH¢4.00 shed off to end the day at GH¢229.00.
Total market capitalization declined by GH¢980.47 to end the trading day at GH¢67.39 billion, which represents a year-to-date change of 4.47%.
Despite the mixed results, trading activity increased significantly, with 72,793 shares valued at GH¢1,309,272.03 traded across eleven (11) counters. Compared to the previous trading session, the total volume traded rose by 50.26%, and the total value traded increased by an impressive 1920.12%.
Notably, transactions in Scancom PLC (MTNGH) topped the trading chart, with 32,760 shares valued at GH¢40,212.68, representing 3.07% of the total value traded. This was followed by Cal Bank PLC (CAL), which traded 24,734 shares valued at GH¢12,367.00, accounting for 0.94% of the total value traded.
In summary, while the Ghana Stock Exchange experienced mixed results on March 31, 2023, increased trading activity indicates growing investor interest in the market. The decline in market capitalization highlights the ongoing volatility in the market, but gains in some stocks provide opportunities for investors seeking returns. Overall, the Ghana Stock Exchange remains a dynamic and evolving market worth watching for investors interested in emerging markets.
