GSE Composite Index up by 36.4%, total market capitalisation by GH¢85.10 billion – Report

The Ghana Stock Exchange Composite Index (GSE-CI) increased to 3,829.6 points in June 2024, from 2,808.03 points recorded in the corresponding period of 2023, the Bank of Ghana’s Monetary Policy Report of July 2024 has said.

This translated into a year-on-year gain of 36.4 percent.

The performance of the GSE-CI was underpinned by “improved demand for equities, driven by a shift in investor appetite following the closure of the bonds market and the recovery in the profitability of listed financial institutions.”

The main sectors that contributed to the gains were food and beverages, manufacturing, distribution, finance, IT, ETFund and agriculture.

The GSE-Financial Stocks Index (GSE-FI) closed at 2,115.04 points, reflecting a gain of 25.0 percent, compared to a loss of 22.3 percent over the same comparative period in 2023.

The gain in the GSE-FSI was mainly on the back of improved profitability of listed financial institutions following sustained periods of losses induced by the impact of the DDEP.

Total market capitalisation of the GSE at the end of June 2024 was GH¢85.10 billion, representing a year-on-year growth of 21.2 percent, compared with a growth of 8.3 percent in June 2023.

The increase in market capitalisation was mainly driven by the appreciation in share prices in the food & beverages, manufacturing, distribution, finance, mining, IT and agriculture sectors.