GSE performance in August dipped despite economic recovery

GSE performance in August dipped despite economic recovery – Report

14th Sep 2024 | Source: Ghanaian Times

The stock performance on the Ghana Stock Exchange (GSE) in August dipped in spite of the recovery in the Ghanaian economy.

The GSE Composite Index ( GSE-CI) which tracks the performance of all companies traded in the GSE, saw a 2.98 per cent drop in August, closing at 4,359.85 points, reducing the year-to-date gain to 39.28 per cent.

The GSE in a statement on the August summary of market activities on the Accra bourse copied to the Ghanaian Times in Accra on Tuesday, however, said the GSE Financial Stock Index increased by 0.77 per cent, increasing its year-to-date gain to11.38 per cent.

It said top price gainers for the month were GGBL closing the month with increase in its price to 9.79 per cent),CMLT(9.09 per cent),BOPP(8.70 per cent),UNIL(8.33per cent),and EGL(6.45per cent),whilst MTNGH and CAL lost 5.98 per cent and 8.82 per cent respectively.

The GSE said the equities market traded a total of 22,329,368 shares valued at GHc175,908,238.60.

“This represents a 75.94 per cent decrease in volume and a 40.55 per cent increase in value compared to the same period last year,” the statement said.

“A total volume of 652,798,625 shares valued at GHc1,285,702,743.41 has traded so far this year, marking an 83.91 per cent increase in volume and a 170.94 per cent rise in value compared to the corresponding period last year,” the GSE stated.

On the Ghana Fixed Income, the the GSE said GSE’s Fixed Income Market closed the month with a traded volume of 17.92 billion, marking a significant 236.02 per cent increase compared to the volume traded in August 2023.

It said treasury bills accounted for 64.28 per cent of volumes traded, whilst government bonds contributed 34.08 per cent, with corporate bonds making up the remaining1.64 per cent.

The GSE said the month concluded with a total traded volume of 17.92 billion, reflecting a 29.20 per cent increase compared to the preceding month.

“However, this volume represents a significant 236.02 per cent increase compared to the same period last year,” the GSE.

It said the year-to-date trading volume reached 103.24 billion, marking a 99.47 per cent increase over the GHc51.76 billion traded in the corresponding period last year.