NewGold beats other equities in trade volume and value; posts 41% returns for investors

In a week marked by strong trading activity, NewGold (GLD) emerged as the top traded equity in terms of volume and value on the local bourse.

The stock, known for its resilience and investor allure, witnessed a trade volume of 129,190, valued at GHS 39,598,255 underscoring a resounding investor confidence in the equity.

GLD’s price surged to GHS 309.20 by the week’s end delivering a remarkable Year-To-Date return of 41.51%.

GLD, GCB and UNIL stood out as top gainers in that order on the bourse while SIC and CMLT recorded GH¢ 0.01 gains to close the week higher.

Price increases in these equities contributed to a notable uptick in the market value of the bourse which edged marginally higher to close the week at GH¢ 77.73 billion.

Meanwhile, despite a marginal decline in the GSE Composite Index, which closed at 3,451.96 points down by a modest -0.12% from the previous week, the market maintained a steadfast positive trajectory, with a Year-To-Date return standing resiliently at 10.28%.

Notably, the GSE Financial Stock Index marked an impressive uptick in both weekly and Year-To-Date returns, fueled by earnings from banking institutions.

In a week characterized by dynamic market movements and robust investor sentiment, GLD’s dominance underscores not only its intrinsic value but also the enduring allure of Ghana’s burgeoning stock market.

Source:norvanreports