New Gold emerges sole gainer on local bourse

The Ghana Stock Exchange (GSE) showcased stability on Thursday, with the benchmark GSE-Composite Index mirroring its opening points, settling at 3,464.13 points. This was also evident in the GSE Financial Stocks Index, which closed unchanged at 2,014.81 points.

Year-to-date returns for these indices stand at a respectable 10.67% and 5.95%, respectively.

In the spotlight was New Gold (GLD) which exhibited resilience recording a gain of GH¢1.78 to conclude trading at GH¢307.76. Investors in GLD have seen robust returns this year, with the stock boasting a YTD increase of 40.85%.

Bolstered by the movement in GLD, the total market capitalization of the GSE experienced a marginal uptick, reaching GH¢77,860.67 billion.

Trading dynamics were notably vibrant and despite the indices’ stagnant performance, Thursday’s trading session saw an explosive surge in turnover, escalating by a staggering 15067.13%.

The exchange witnessed brisk activity across fourteen distinct counters. However, a contrasting narrative was evident in traded volumes, which dwindled by 52.35% to 72,309 units.

Among the notable counters, outstanding offers were spotted for MTNGH at GH¢1.58, EGH at GH¢3.20, CAL at GH¢0.40, and UNIL holding firm at GH¢12.00.

Source:norvanreports