Ghana Stock Exchange turnover fell sharply on Wednesday, September 30, as reduced activity in MTN Ghana and losses across eight ordinary equities brought a cautious end to the month.
Total value traded dropped to GH¢25.33 million from GH¢50.97 million in the previous session, a decline of just over 50 per cent. Trading volume also fell 39.5 per cent to 5.12 million securities from 8.46 million on September 29.
The slowdown was driven largely by Scancom Plc, which trades as MTN Ghana.
MTN recorded 3.51 million shares worth GH¢22.84 million, compared with 7.48 million shares valued at GH¢48.71 million a day earlier.
Despite the decline, the telecommunications company still accounted for about 69 per cent of market volume and more than 90 per cent of total turnover. Its share price slipped by GH¢0.01 to GH¢6.50.
MTN Dominance Masks Thin Trading Elsewhere
The September 30 session again highlighted how heavily trading activity on the GSE depends on a small number of stocks.
Excluding MTN Ghana, the rest of the market generated only about GH¢2.49 million in turnover.
That means a sharp movement in MTN activity can significantly change headline market turnover even when trading conditions across most listed companies remain relatively quiet.
Market breadth was also weak. Three ordinary shares gained, eight declined and the rest closed unchanged.
Ecobank Transnational Incorporated led the gainers, rising GH¢0.11 to GH¢1.73. The increase represented about 6.8 per cent from its previous closing price of GH¢1.62.
Kasapreko gained GH¢0.03 to close at GH¢1.84 after 112,238 shares changed hands, while Ecobank Ghana edged GH¢0.01 higher to GH¢39.01.
GOIL Leads Decliners
Ghana Oil Company recorded the biggest percentage decline among ordinary shares, losing GH¢0.44 to finish at GH¢5.66, equivalent to a 7.2 per cent drop.
Societe Generale Ghana followed with a GH¢0.32 decline to GH¢5.18, while SIC Insurance lost GH¢0.24 to close at GH¢4.80.
CalBank slipped GH¢0.01 to GH¢0.70 despite attracting significant investor activity. More than 1.04 million CalBank shares were traded for GH¢730,692, making it the second most active ordinary equity by volume after MTN Ghana.
Clydestone Ghana and Dannex Ayrton Starwin each declined by GH¢0.01, while GCB Bank fell GH¢0.04 to GH¢40.
Enterprise Group remained unchanged at GH¢7.35 after trading 75,407 shares worth GH¢554,241.
GAX Counters Remain Flat
Trading on the Ghana Alternative Market produced no price changes.
Intravenous Infusions recorded 165,273 shares worth GH¢87,577 and maintained its GH¢0.53 closing price. Digicut also remained unchanged at GH¢0.47 after 52,490 shares traded.
NewGold closed flat at GH¢462.38, with 111 units valued at GH¢51,324 changing hands.
Wednesday’s figures point to weaker liquidity and a negative tilt in market breadth, but not a broad market selloff.
Most declines were relatively modest, while the sharp reduction in turnover came mainly from lower MTN Ghana activity compared with the unusually strong trading recorded a day earlier.
The next test for the market will be whether October brings wider participation across listed companies or leaves overall liquidity dependent on a handful of heavily traded counters.
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