MTN Ghana trades over 56 million shares on the GSE

Telecoms giant, MTN Ghana accounted for 91.61% of the total volume and 83.61% of the total value on the market

The GSE – Composite Index (CI) and market capitalization advanced by 8.26 points (0.46%) and GHC 251.99 million (0.48%) to seal this week at 1, 608.59 points and GHC53,118.12 million from a week open of 1,608.59 points and GHS 52,866.13 million.

The yield for the broader market index closed the week at -19.29%. The GSE Financial Stock Index also increased by 14.61 points (0.91%) from week open to seal the week at 1,623.20 points and a year-to-date decline of -19.63%.

Trading activity ended the week with 61,301,612 shares changing hands at a market value of GHC 40, 971,813.63. Termed as the heartbeat of the Ghana Stock Exchange (GSE), MTN Ghana accounted for 91.61% of the total volume and 83.61% of the total value on the market.

Maintaining it week open share quote of GHS 0.61, a total of 56,155,500 shares were traded on the main board of the exchange at GHS 34,254,908 for the week ending 13 November 2020.

SIC followed with over 3.6 million shares trading and this accounted for 5.92% of total shares traded on the floor of the GSE.

ECOBANK traded 1.22 million shares and that represented 1.99% of total shares traded.

On average, sixteen listed equities participated in trading week-on-week on the Ghana Stock Exchange (GSE) and it ended with three gainers and two losers.

Ecobank Transnational Incorporated (ETI) emerged the top gainer on the exchange as it shored up by 14.29% (one pesewa) to seal the week at GHC 0.08. Fan Milk (FML) added 1.90% (two pesewas) to it previous week close value of GHC 1.05 and ECOBANK advanced by 0.81% (four pesewas) to end the week at GHC 5.00 from a previous week close quote of GHC 4.96.

On the laggards desk, SIC lost all gains recorded this year within the week under review as it closed the weeks’ trading session at it year open price of GHS 0.08. Previously trading at GHS 0.10, the equity lost 20% of its value.

Benso Oil Palm Plantation (BOPP) after reporting a rise in its revenue for the first nine months of 2020 by 14.1% to GHC 89.67 million last week, the equity did not hold firm grounds on the Ghana Stock Exchange this week as it lost 4.76% (10 pesewas) to investors’ capital on a weekly bases. The current share price of BOPP on the exchange is GHC 2.00.

Investors in BOPP may be worried now considering the sharp loss recorded this week to bring its year-to-date return to 0.00%.

MTN Ghana, CAL Bank, ECOBANK and Fan Milk may continue to dominate trading activity on the Ghana Stock Exchange (GSE) next week.

Bertha Atubiga

Asaase Radio 99.5 – tune in or log on to broadcasts online.

Follow us on Twitter: @asaaseradio995

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