GSE rebounds as UNIL, ZEN, and ALLGH lead powerful rally; MTNGH recovers
The Ghana Stock Exchange (GSE) staged a strong recovery on Tuesday, reversing the previous session's modest decline as the GSE Composite Index climbed nearly 24 points to close at 14,878.21. The index now stands 0.70 per cent higher year-to-date, offering renewed hope to investors.
Total turnover, however, cooled significantly to just under 5.5 million cedis from over 34 million cedis on Monday, as only 972,638 shares changed hands. But what the market lacked in volume, it made up for in price action, with several heavyweights and mid-caps posting eye-catching gains.
The financial sector index bucked the broader trend, slipping by 46.8 points, weighed down by losses in GCB and Ecobank Ghana.
Biggest gainers steal the show
Leading the charge was Unilever Ghana (UNIL) , which surged by an impressive 1.54 cedis to close at exactly 30 cedis, hitting a new year-high in the process. The consumer goods giant saw over 1,000 shares trade, signalling renewed confidence in the counter.
Atlantic Lithium (ALLGH) also delivered a standout performance, jumping by 60 Ghana pesewas to close at 7.80 cedis. The stock traded actively, with nearly 5,000 shares crossing the board.
ZEN Petroleum (ZEN) continued its blistering run, adding 19 Ghana pesewas to close at a new year-high of 5.75 cedis. The energy play has now gained 30 pesewas over the past two sessions and shows no signs of slowing down.
Benso Palm Plantation (BOPP) rose by 50 pesewas to close at 85.50 cedis on thin but positive volume, while SIC Insurance (SIC) added 10 pesewas to close at 5.48 cedis.
Clydestone (CLYD) extended its rally, gaining 2 pesewas to hit a fresh year-high of 1.60 cedis, while MTNGH, the day's most traded stock by volume, recovered 4 pesewas to close at 6.55 cedis after Monday's dip.
Fan Milk (FML) also joined the gainers' list, adding 6 pesewas to close at 12.26 cedis.
Laggards face profit-taking
On the losing side, GCB Bank (GCB) was the day's biggest loser in absolute terms, shedding a steep 90 pesewas to close at 41.59 cedis. The bank saw over 10,000 shares traded as profit-takers moved in.
Enterprise Group (EGL) dipped by 3 pesewas to close at 11.05 cedis, while Ecobank Transnational (ETI) lost 3 pesewas to close at 2.24 cedis.
Ecobank Ghana (EGH) slipped by 2 pesewas to close at 48.87 cedis, and Ghana Oil Company (GOIL) eased by 1 pesewa to close at 7.91 cedis.
Gainers at a glance
Unilever Ghana (UNIL) – Up 1.54 cedis
Atlantic Lithium (ALLGH) – Up 0.60 cedis
ZEN Petroleum (ZEN) – Up 0.19 cedis
Benso Palm Plantation (BOPP) – Up 0.50 cedis
SIC Insurance (SIC) – Up 0.10 cedis
Fan Milk (FML) – Up 0.06 cedis
Scancom PLC (MTNGH) – Up 0.04 cedis
Clydestone (CLYD) – Up 0.02 cedis
Laggards at a glance
GCB Bank (GCB) – Down 0.90 cedis
Enterprise Group (EGL) – Down 0.03 cedis
Ecobank Transnational (ETI) – Down 0.03 cedis
Ecobank Ghana (EGH) – Down 0.02 cedis
Ghana Oil Company (GOIL) – Down 0.01 cedis
Market snapshot
Total shares traded: 972,638
Total value traded: 5.47 million cedis
GSE Composite Index: 14,878.21 – up 23.83 points
Market capitalisation: 279.77 billion cedis