Last week’s trading on the Ghana Stock Exchange (GSE) was nothing short of eventful, with key stocks making notable moves. Some stocks surged ahead like sprinters in a 100m dash, while others stumbled slightly but kept the race interesting.
The standout price movers for the week included GLD, ACCESS, CAL, ETI, MTNGH, TOTAL, GOIL, and SIC, each making waves in their own right.
Winners and Losers: Who Stole the Show?
Gold-backed GLD led the pack, demonstrating why investors see it as a safe haven asset. The NewGold Exchange Traded Fund (ETF), which mirrors gold prices, saw its price decline slightly from GH₵440.00 on February 19 to GH₵435.80 by the week’s end, marking a -0.95% drop. Despite this minor dip, GLD remains a strong performer on the market.
ACCESS Bank had a stellar run, with its share price jumping from GH₵6.20 to GH₵6.82, reflecting a 10% increase—not bad for a week’s work! CAL Bank also saw some love from investors, climbing from GH₵0.44 to GH₵0.47, a 6.8% gain.
The ever-resilient Ecobank Transnational Inc. (ETI) also had a solid week, gaining 10.6% to move from GH₵0.47 to GH₵0.62. Meanwhile, MTN Ghana (MTNGH), a heavyweight in the telecom sector, saw a modest increase of 3.6%, rising from GH₵2.80 to GH₵2.90.
On the energy front, GOIL edged up slightly from GH₵1.59 to GH₵1.60, a 0.63% rise, while SIC Insurance saw its stock price move from GH₵0.29 to GH₵0.31, a 6.9% increase. TOTAL Petroleum experienced a minor shift, moving from GH₵13.41 to GH₵13.62, reflecting a 1.56% gain.
Opening Prices vs. Last Trading Prices
For those tracking the week’s movement closely, here’s how these stocks performed from their opening prices to their final positions on the trading board:
- ACCESS opened at GH₵6.20, closing at GH₵6.82 (+10%)
- CAL opened at GH₵0.44, closing at GH₵0.47 (+6.8%)
- ETI opened at GH₵0.47, closing at GH₵0.62 (+10.6%)
- MTNGH opened at GH₵2.80, closing at GH₵2.90 (+3.6%)
- GOIL opened at GH₵1.59, closing at GH₵1.60 (+0.63%)
- SIC opened at GH₵0.29, closing at GH₵0.31 (+6.9%)
- TOTAL opened at GH₵13.41, closing at GH₵13.62 (+1.56%)
- GLD opened at GH₵440.00, closing at GH₵435.80 (-0.95%)
Market Activity and Trading Volume
Beyond the price movements, trading volumes and market activity reflected strong investor participation. The GSE Composite Market Capitalization closed the week at GH₵5,564.47 million, marking an improvement over the previous week.
A total volume of 328,280 shares changed hands on Friday, February 21, down from 1,237,792 shares on Thursday, February 20, which was the most active trading day of the week.
Currency Market Movements
The foreign exchange market also saw some notable movements last week.
The foreign exchange market also saw some notable movements last week, with the mid rates showing mixed results:
- The US dollar gained strength, appreciating by 4.00%, moving from GH₵15.54 to GH₵15.50.
- The British pound (GBP) had a rough week, declining 9.70%, slipping from GH₵19.5448 to GH₵19.6418.
- The Euro (EUR) remained relatively stable, recording a slight -0.23% drop from GH₵16.244 to GH₵16.2463.
- The Canadian dollar (CAD) lost -1.45%, moving from GH₵10.9268 to GH₵10.9413.
