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Business News of Wednesday, 18 September 2019

Source: Bertha Atubiga

Stock Market: GSE fourth worst performing exchange in Africa

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The Ghana Stock Exchange closed Tuesday’s trading session with a total of 18,170,507 shares exchanging hands at a value of GHS 13,131,084.74.

The market closed with 8 equities participating in the days’ trade, but saw one (1) equity adding on to investor’s capital and three (3) decliners.

MTN recorded the highest volume of shares, trading on the exchange with 18,052,400 and that saw the equity add 1.43% of its value to the opening share quote. (Enterprise Groupe Limited) was the second most traded equity with 84,100 followed by GCB (Ghana Commercial Bank), BOPP (Benso Oil Palm Plantation) and SCB (Standard Chartered Bank) with 32,500, 1,000, and 100 shares trading respectively.

The worth of the Ghana Stock Exchange (Market Capitalization) shored up by 0.19% (109.04) by the close of day and has lost 6.76% from the beginning of this year to close at GHS 57,001.56 million.

The Composite Index advanced by 10.61 points (0.47%) to close at 2,245.61 points to close the day with a week-to-date loss of 0.64%, a four week loss of 2.01% and records an overall Year-to-date loss of 12.7%. This makes the Ghana Stock Exchange the fourth worst performing exchange in Africa but outperformed the NGSE (Nigeria Stock Exchange) All share (-12.80%), BRVM (Bourse Régionale des Valeurs Mobilières)- Composite (-14.15%) and LuSE (Lusaka Stock Exchange) All share (16.04).

The Financial Stocks Index (GSE-FSI), on the other hand, declined by 0.07% to 1,922.18 points (has lost 231.56 points from year open), making it a 1-week loss of 2.38%, a 4-week loss of 4.6%, and a year-to-date loss of 10.75%.