GSE performance in August dipped despite economic recovery – Report

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 percent drop in August, clos­ing at 4,359.85 points, reducing the year-to-date gain to 39.28 percent.

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 percent, increasing its year-to-date gain to11.38 percent.

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 percent),BOPP(8.70 percent),UNIL(8.33 percent),and EGL(6.45 percent),whilst MT­NGH and CAL lost 5.98 per cent and 8.82 percent respectively.

The GSE said the equi­ties market traded a total of 22,329,368 shares valued at GH¢175,908,238.60.

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

“A total volume of 652,798,625 shares valued at GH¢1,285,702,743.41 has traded so far this year, marking an 83.91 percent increase in volume and a 170.94 percent 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 percent of volumes traded, whilst government bonds contributed 34.08 percent, with corporate bonds making up the remaining 64 percent.

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

“However, this volume rep­resents a significant 236.02 percent 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 percent increase over the GH¢51.76 bil­lion traded in the corresponding period last year.