GSE shows mixed performance as benchmark index gains while financial stocks lag behind

The Ghana Stock Exchange witnessed a day of mixed fortunes as the benchmark index, GSE-Composite, displayed resilience with a notable gain of 12.04 points, closing at 2,712.95 points. This achievement translates into a commendable year-to-date return of 11.01%. However, in contrast, the GSE Financial Stocks Index struggled to gain momentum, advancing marginally by 0.48 points and closing at 1,694.77 points, leaving it with a disappointing year-to-date return of -17.43%.

CAL Bank PLC. (CAL) and Scancom PLC. (MTNGH) emerged as the standout performers among individual equities, both making noteworthy gains. CAL Bank witnessed a gain of GH¢0.01, concluding the trading session at GH¢0.60, while Scancom PLC. recorded the same uptick, closing at GH¢1.24.

On the other side of the spectrum, Access Bank Ghana PLC. (ACCESS) and NewGold (GLD) struggled to maintain their footing, with both experiencing losses. Access Bank Ghana PLC. saw a decline of GH¢0.02, settling at GH¢3.98, while NewGold registered a significant loss of GH¢0.40, ending the session at GH¢221.20.

Market participants witnessed a total market capitalization of GH¢68.02 billion by the close of the day, signifying the overall value of listed companies on the Ghana Stock Exchange.

Trading activity remained moderate, with a total volume of shares traded reaching 86,170, amounting to a value of GH¢3,803,215.84. These trades were spread across nineteen (19) equities, reflecting cautious investor sentiment prevailing in the market.

Within the trading volume, CAL Bank PLC. (CAL) dominated the charts, trading 30,100 shares valued at GH¢18,059.00, representing 0.47% of the total value traded. Notably, NewGold (GLD) accounted for the lion’s share of the trading value, as 16,890 shares changed hands at a value of GH¢3,736,068.00, accounting for an impressive 98.23% of the total value traded.

While the Ghana Stock Exchange experienced mixed performance on this trading day, market participants remain watchful of future developments, anticipating potential opportunities and challenges that lie ahead in the country’s dynamic financial landscape.

Source: norvanreports