GSE ends 2023 Composite Index with 28.08% gain - Report

Despite facing challenges in the capital market throughout the year, the Ghana Stock Exchange (GSE), closed 2023 with the Composite Index showing a remarkable gain of 28.08%.

This marks a significant turnaround compared to the 12.38% loss recorded in 2022, according to a graphic.com.gh report.

However, the Financial Stock Index experienced a year-to-date loss of 7.36%, contrasting with the 4.61% loss in the previous year of 2022.

Despite this, volumes, value, and the number of trades all showed a decrease compared to the figures recorded in 2022.

Key market indicators such as volumes, value, and the number of trades exhibited a decline in 2023 when compared to the figures recorded in the previous year.

The cumulative volume traded, valued at GH¢818.1 million, amounted to 579,675,315, reflecting a 56.59% decrease, and a 50.11% decrease, respectively, in comparison to the same period in 2022.

Despite a marginal 0.08% decrease in the number of transactions, the market capitalization witnessed growth, rising by 14.55% from GH¢64.5 billion at the end of December 2022 to GH¢73.89 billion by the close of December 2023.

The report highlighted the top gainers for the year, including BOPP (187.58%), TOTAL (127.00%), UNIL (109.02%), GGBL (65.85%), and MTN (59.09%).

Meanwhile, the Ghana Fixed Income Market (GFIM) recorded a substantial decline in cumulative volume traded, reaching 98.44 billion, reflecting a 57.26% decrease from the 230.32 billion traded in the same period in 2022.

The bond market, at the close of 2023, reported a cumulative volume traded of 98.44 billion, reflecting a decrease of 57.26% compared to the total volume traded of 230.32 billion observed in the preceding year.

Furthermore, the total number of trades for the year declined by 24.36%, from 528,188 trades in 2022 to 399,522 trades in 2023.

Also, market activity was characterised by long-term government securities accounting for 32.47%, short-term government instruments constituting 58.64%, and corporate trades comprising 8.89% within the year under review.\

NW/MA

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