EGH nears year-high price as market capitalisation rises by GHS 32m

Ecobank Ghana’s (EGH) share price got closest to its year high (GH¢6.64) for the first time since February, earning GH¢0.10 to close at GH¢6.

The impressive performance of EGH significantly contributed to an overall market capitalization boost, with an increase of GH¢32.26 million, bringing the total market capitalization to GH¢73.77 billion.

In a moderately active trading session, a total of 60,265 shares were exchanged, representing a 27.47% decline in trading volumes. However, the total trading value surged by 18.89% to GH¢118,116.68.

Notably, CAL led the day’s trading activities with 20,772 shares changing hands, followed closely by ACCESS, which saw 20,423 shares traded at a value of GH¢69,438.20. Additional top-traded stocks included MTNGH, EGH, and GOIL.

The broader market indices displayed resilience, as the GSE-Composite Index recorded a gain of 2.97 points to close at 3,131.47 points, translating to a year-to-date return of 28.13%.

Concurrently, the Financial Stocks Index also showed strength, rising by 5.60 points to close at 1,990.46 points, thereby reducing its year-to-date loss to -3.03%.

EGH’s impressive performance, coupled with the overall positive market sentiment, paints a promising picture for Ghana’s stock market in the recent trading session, indicative of renewed investor interest and confidence.