GSE equity market: Activity positive; ¢25.2m shares change hands

May 23, 2023 / Comments (0)

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Market activity on the Ghana Stock Exchange (GSE) equity market was upbeat last week, with 14.5 million shares worth ¢25.2 million changing hands across 25 counters.

MTN Ghana and GCB Bank drove activity, jointly accounting for 63% of aggregate volumes and 58% of total turnover.

Driven by gains in MTN Ghana (¢1.26, +5.00% week-on-week), the market indices ended the trading week higher.

The GSE Composite Index (GCI) advanced 1.89% week-on-week to 2,721.17 points (+11.34% year-to-date).

New Gold ETF (¢227.62, +3.81% w/w) was the only other counter that recorded gains within the week, while Standard Chartered Bank (¢13.90), Fan Milk (¢1.00) and GCB Bank (¢3.19) all declined by 9.74%, 5.66% and 0.31% respectively.

Market Capitalization moved up to ¢68.09 billion, from ¢67.54 billion the previous week.

Meanwhile, TotalEnergies and Unilever Ghana are the stocks expected to advance this week week based on strong stock demand.

Conversely, MTN Ghana is expected to decline due to anticipated selling activity following the ex-dividend date, which falls next week.


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