The Ghana Stock Exchange (GSE) closed lower in the week to May 29, as its benchmark index eased 1.14 percent even while traded value surged on heavy telecom activity.
The GSE Composite Index (GSE-CI) shed 1.14 percent to close at 14,354.14, trimming a year to date gain that still stands at 63.67 percent. The narrower GSE Financial Stocks Index (GSE-FSI) eased 0.35 percent to 7,853.48, up 68.99 percent so far this year.
Market capitalisation slipped 0.50 percent to GHS 262.94 billion. Turnover, however, moved sharply the other way. Traded value jumped 176.6 percent to GHS 112.66 million even as volume fell 69.86 percent to 17.53 million shares, a sign that fewer but far larger trades crossed the floor.
The Information and Communications Technology (ICT) sector drove most of the activity, making up 92.58 percent of volume and 93.85 percent of value. MTN Ghana (MTNGH) led both measures, with 16.2 million shares and GHS 105.7 million in value, although its price still fell 3.42 percent to GHS 6.50.
ZEN Petroleum (ZEN), which listed in April, was the week’s standout gainer, rising 18.49 percent to GHS 11.47. Ecobank Transnational Incorporated (ETI), the NewGold exchange traded fund (GLD) and TotalEnergies (TOTAL) also advanced.
SIC Insurance (SIC) led the fallers, dropping 5.48 percent to GHS 5.00, ahead of GCB Bank (GCB) at 4.70 percent, CalBank (CAL) and Atlantic Lithium (ALLGH). The simple average price change across the movers was a positive 0.17 percent, with declines in heavyweights such as GCB and MTN Ghana pulling the value weighted index lower.
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