GSE Ends January on a Positive Note

The Ghana Stock Exchange (GSE) ended the month of January on a high note, with impressive gains driven by CalBank Plc and NewGold ETF.

The market continued its positive trajectory, buoyed by strong investor confidence and increased trading activity.

The trading session closed with 11 listed equities participating, culminating in two gainers and no recorded losses. CalBank Plc (CAL) emerged as the top performer, recording a 5.13% increase in its share price. The financial institution closed trading at GHS 0.41 per share, reflecting a 2 pesewa gain from its previous closing price of GHS 0.39.

NewGold ETF also made gains, maintaining its upward trajectory with a 0% change in percentage terms, yet contributing to the overall bullish sentiment in the market. The absence of any declining stocks during the session further reinforced investor optimism, signaling strong resilience in the local equities market.

Upward Momentum

The benchmark GSE Composite Index (GSE-CI) saw a slight increase of 1.74 points (0.03%), closing at 5,229.44 points. This represented a 1-week gain of 3.01%, a 4-week gain of 6.97%, and an overall year-to-date gain of 6.97%, reflecting the steady growth of the exchange in the new year.

Similarly, the GSE Financial Stocks Index (GSE-FSI) climbed 0.1% to reach 2,475.34 points, achieving a 1-week gain of 2.55%, a 4-week gain of 3.97%, and a year-to-date gain of 3.97%. This indicates continued strength in Ghana’s financial sector stocks, with key banking and insurance equities contributing to the index’s growth.

Investor confidence remained high, pushing the market capitalization of the Ghana Stock Exchange to GHS 117.2 billion. This milestone reflects the increasing value of listed companies and signals potential for further growth in the equity market. The surge in market capitalization suggests sustained investor interest and a favorable economic outlook for listed firms.

Mixed Performance

At the close of trading, a total of 168,483 shares exchanged hands, amounting to a market value of GHS 181,380.93. This represented a 5% increase in trading volume compared to the previous session on Thursday, January 30.

However, despite the rise in trading volume, the market turnover declined significantly by 58%, suggesting that while more shares were traded, they were primarily from lower-priced equities. This highlights a shift in investor preference towards stocks with potential for gradual appreciation over time.

Among the equities traded, CalBank Plc (CAL) recorded the highest volume with 89,532 shares changing hands. This impressive performance further reinforced the bank’s growing appeal among investors.

Following closely behind was Ghana Oil Company (GOIL), which traded 49,659 shares, reflecting continued interest in the energy sector. Other actively traded stocks included Enterprise Group (22,659 shares) and MTN Ghana (6,096 shares), further emphasizing the dominance of financial and telecom stocks in the market.