GSE sees positive momentum as trading volume surges
THE Ghana Stock Exchange (GSE) Composite Index recorded a notable rise on the second trading day of the week, gaining 74.65 points to close at 4,808.27. However, the GSE Financial Stock Index remained unchanged at 2,370.11.
Market capitalization increased by 0.85%, reaching GHS 110.1 billion, marking a significant year-to-date growth of 48.99%.
Key performers in the session included MTN Ghana, which saw its share price rise by GHS 0.07 to close at GHS 2.45. New Gold also experienced a substantial increase of GHS 1.89, ending the day at GHS 387.40. Importantly, no losses were recorded during the session.
Trading activity surged significantly, with volumes increasing by an impressive 3,540.10% to 7,121,529 shares. This spike in activity boosted the total value traded to GHS 21,571,362.19. CAL Bank dominated the session, accounting for 70.35% of the total trading volume.
On the currency front, the Ghanaian cedi showed mixed performance against major currencies. The cedi appreciated marginally by 0.07% against the US dollar, closing at GHS 14.72 per dollar, though it has depreciated by 19.29% year-to-date. Against the British pound, the cedi weakened slightly by 0.07%, ending at GHS 18.70, reflecting a year-to-date depreciation of 19.12%.
Conversely, the cedi strengthened against the euro, appreciating by 0.14% to close at GHS 15.46. Despite this, the cedi has depreciated by 15.11% against the euro since the start of the year. These figures are based on the Bank of Ghana’s interbank mid-rates and highlight the dynamic nature of Ghana’s financial markets.
