The Ghana Stock Exchange (GSE) rounded off the month of April in spectacular fashion on Thursday, as the GSE Composite Index climbed another 32 points to close at 15,130.52, extending the week’s remarkable run. Total market turnover surged to over 41.5 million cedis from more than 4 million shares traded, marking the highest daily value of the week.
The index has now gained more than 270 points over the past three sessions, and investor wealth has swelled by nearly 2.2 billion cedis since Monday alone.
The financial sector index, however, dipped slightly by 13 points as profit-taking emerged in some banking stocks, but the broader market remained firmly in the green.
The day’s most spectacular performance came from ZEN Petroleum, which erupted by 39 pesewas to close at a new year-high of 6.14 cedis. The energy stock has now gained an astonishing 58 pesewas over the past three sessions, and with a closing bid price of 6.15 cedis, the momentum shows no signs of slowing. More than 33,000 shares changed hands as investors scrambled to board what is fast becoming the hottest ticket on the Accra bourse.
Scancom PLC, trading as MTNGH, continued its relentless ascent, adding 3 pesewas to close at a new year-high of 6.80 cedis. The stock was the day’s most traded by a massive margin, with over 3.05 million shares crossing the board, accounting for more than three-quarters of total market volume. With the June 3 ex-dividend date fast approaching, income seekers are piling into the telecoms giant to capture the 6 pesewas quarterly payout.
After a difficult week that saw the stock shed more than one cedi, GCB Bank roared back on Thursday, adding 12 pesewas to close at 41.55 cedis. The recovery came on hefty volume of more than 434,000 shares, suggesting that bargain hunters have stepped in to scoop up the banking bellwether at discounted levels.
Atlantic Lithium remained the most active stock behind MTNGH, with nearly 53,000 shares traded, though the price held steady at 7.80 cedis. The stock has now plateaued after a stunning 60-pesewa rally earlier in the week, and the high volume suggests a fierce tug-of-war between buyers and sellers at these elevated levels.
Not every stock joined the party. TotalEnergies Marketing Ghana was the day’s biggest loser in absolute terms, tumbling 31 pesewas to close at 34.23 cedis. The oil marketer saw over 4,000 shares traded as sellers emerged.
Fan Milk continued its miserable week, shedding another 50 pesewas to close at 11.50 cedis. The dairy giant has now lost 76 pesewas over the past three sessions, and the selling pressure remains relentless.
Ecobank Transnational dipped by 2 pesewas to close at 2.18 cedis, while Enterprise Group eased by 2 pesewas to 11.03 cedis. Republic Bank slipped by 1 pesewa to close at 5.57 cedis.
The NewGold exchange-traded fund ticked up by 1 pesewa to close at 497.01 cedis, with 1,241 units traded, adding a modest but positive note to the ETF segment.
Gainers at a glance
ZEN Petroleum (ZEN) – Up 0.39 cedis
GCB Bank (GCB) – Up 0.12 cedis
Scancom PLC (MTNGH) – Up 0.03 cedis
NewGold ETF (GLD) – Up 0.01 cedis
Laggards at a glance
TotalEnergies Marketing Ghana (TOTAL) – Down 0.31 cedis
Fan Milk (FML) – Down 0.50 cedis
Ecobank Transnational (ETI) – Down 0.02 cedis
Enterprise Group (EGL) – Down 0.02 cedis
Republic Bank (RBGH) – Down 0.01 cedis
Market snapshot
Total shares traded: 4,005,793
Total value traded: 41.51 million cedis
GSE Composite Index: 15,130.52 – up 32.30 points
Market capitalisation: 281.84 billion cedis
Source:
www.graphic.com.gh