Ghana Stock Exchange shows robust performance with notable gains in key equities

The Ghana Stock Exchange (GSE) experienced a strong trading session on September 6, 2023, characterized by significant gains in essential equities and a surge in trading activity.

This surge in investor participation and increased volume is instilling confidence in the Ghanaian stock market.

Out of the 14 GSE-listed equities involved in the trading, optimism prevailed as there were no losers and three notable gainers.

Fan Milk led the way with an impressive 9.7% increase in its share price, closing at GHS 1.81 per share. Following closely were Unilever Ghana, which recorded a gain of +9.46%, and Guinness Ghana Breweries with a +6.75% rise in share price.

On the trading day, a total of 84,240 shares were traded, representing a market value of GHS 236,344.24. This indicates a remarkable 72% uptick in trading volume compared to the previous trading session. Even more impressive was the substantial 210% surge in turnover, reflecting heightened investor interest and engagement.

Regarding trading volume, MTN Ghana emerged as the leader with 33,842 shares traded, showcasing its popularity among investors. Guinness Ghana Breweries closely followed with 31,000 shares changing hands. Unilever Ghana and Fan Milk also attracted considerable trading interest, with 11,000 and 4,200 shares traded, respectively.

The Ghana Stock Exchange’s current market capitalization stands at an impressive GHS 73 billion, underscoring its significance in the Ghanaian economy.

The benchmark GSE Composite Index (GSE-CI) exhibited resilience by climbing 10.55 points (0.35%) to reach 3,064.23. While this reflects a 1-week loss of 1.14% and a 4-week loss of 1.33%, the index maintains an overall year-to-date gain of 25.38%. Conversely, the GSE Financial Stocks Index (GSE-FSI) held its value at 1,755.03 points, posting a 1-week gain of 0.57% and a 4-week gain of 1.54%, albeit grappling with a year-to-date loss of 14.5%.

Source: Ghana Business

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