Local bourse records 581%, 560% surge in equity volume and value traded for last week
In tandem with the broader market, the GSE Composite Index (GSE-CI) displayed resilience despite minor losses, closing at 3,125.72 points, translating into an impressive year-to-date return of 27.90%.
The Ghana Stock Exchange (GSE) last week witnessed a notable upsurge in trading activity, characterized by substantial spikes in both trading volume and trade turnover.
The trading landscape unfolded with 3,907,818 shares changing hands, constituting a total value of GH¢5,438,458.55.
A Week of Unprecedented Growth
Comparing these figures to the preceding trading week, the week under review witnessed an astonishing 581.63% surge in trading volume and an equally remarkable 560.44% upswing in trade turnover.
Such substantial increases can be attributed to the active participation of investors and market players, who were undeniably captivated by the prospects on offer.
MTNGH leads the Pack
At the forefront of this surge, telecommunications giant MTNGH dominated the trading landscape, commanding a substantial 86.72% share of the total value traded.
Moreover, MTNGH displayed robust trading volumes, thus assuming a pivotal role in market dynamics.
Market Equities and Price Movements
Amidst this fervor, a total of 26 equities were active during the week. However, only three equities exhibited notable price movements week-on-week.
BOPP and EGH demonstrated resilience, advancing by GH¢0.92 and GH¢0.30, closing at GH¢19.93 and GH¢5.90, respectively.
Conversely, MTNGH experienced a persistent downtrend, relinquishing GH¢0.01 to conclude the week at GH¢1.37.
Market Capitalization’s Decline
The confluence of these market dynamics prompted a discernible contraction in market capitalization, with a decline of GH¢3.5 million, resulting in a closing figure of GH¢73.74 billion.
This decline underscores the potential volatility and fluidity of the market.
Indices Performance
In tandem with the broader market, the GSE Composite Index (GSE-CI) displayed resilience despite minor losses, closing at 3,125.72 points, translating into an impressive year-to-date return of 27.90%.
Conversely, the GSE Financial Stock Index (GSE-FSI) showcased a contrasting narrative. It concluded the week with a 16.80-point surge, closing at 1,979.43 points; nonetheless, it endured a negative return of -3.56%.
Overall, the GSE witnessed a week of heightened trading activity, notable price movements, and diverse performance across indices.
Source:norvanreports
