Ghana Stock Exchange sees slight increase in benchmark index, while financial stocks decline

The benchmark index of the Ghana Stock Exchange (GSE-Composite Index) closed at 2,722.79 points, representing a 1.62 point increase, which translates to a 11.41% year-to-date (YTD) return. However, the GSE Financial Stocks Index saw a decline of 2.47 points, closing at 1,720.27 points, which represents a YTD return of -16.19%.

TotalEnergies Marketing Ghana Plc. (TOTAL) and Unilever Ghana PLC. (UNIL) were among the top performers for the day, gaining GH¢0.01 and GH¢0.48 respectively. Total closed the day at GH¢6.43, while Unilever Ghana PLC. closed at GH¢5.28. On the other hand, Societe Generale Ghana PLC. (SOGEGH) shed off GH¢0.02 to end the day at GH¢0.60.

Market capitalization saw an increase of GH¢16.93 million to end the day at GH¢68.12 billion. However, market activity for the day saw a significant decline, with volume traded decreasing by 93.80%, and value traded decreasing by 93.52%. The total shares traded for the day were 178,299, valued at GH¢ 331,082.67, across twelve equities.

Scancom PLC. (MTNGH) topped the trading chart for the day, trading 124,960 shares valued at GH¢157,449.60, which represents 47.56% of the total value traded. This was followed by Ecobank Transnational Inc. (ETI), trading 19,610 shares, valued at GH¢2,941.50, representing 0.89% of the total value traded.

Overall, the Ghana Stock Exchange showed a mixed performance for the day, with the benchmark index seeing a slight increase while financial stocks declined. Despite the increase in market capitalization, market activity saw a significant decline, indicating that investors may be taking a more cautious approach in the current market climate.

Source: norvanreports