Ghana Stock Exchange records bullish performance in November – Report

Trading activi­ties on the Ghana Stock Exchange (GSE) in No­vember this year recorded a bullish performance, reflecting the relative strong growth in the Ghanaian economy for the last three quar­ters.

Both the volume and value of shares traded on the Accra bourse increased by 1,009.7 per cent and 807.7 per cent respectively, the GSE said in the Summary of November 2023 market activities copied to the Ghanaian Times.

It said on the equities mar­ket, the volume of shares traded on the Accra bourse increased to 131,714,300 in November, compared with the 11,869,147, while the value of shares shot up to GH¢172,371,708.48 in Novem­ber from GH¢18,990,316.20 in October.

The companies which drove the November, 2023 market per­formance were EGH which saw an 18.64 per cent increase in its share price, GLD recorded a price gain of 2.58 per cent, MTNGH with a 2.19 per cent increase in its share price, CAL, recording a growth of 2 per cent in its share price and FML recording 0.33 per cent increase in its share price.

The GSE said the total market capitalisation increased by 0.67 per cent to GH¢74, 234.96 in November from GH¢73, 736.96 in October.

It said the GSE –CI from year-to-date (January to November 2023) saw an increase of 29.71 per cent compared with the loss of 11.69 per cent recorded in the same period last year.

“The GSE Composite Index (GSE CI) recorded an increase of 44.28 points compared to the previous month, bringing the year-to-date return to 29.71 per cent. The GSE Financial Stock Index gained 17.52 points during the month, reducing the year-to-date loss to 2.71 per cent,” the Novem­ber summary of market activities statement, said.

The GSE-CI is a major stock market index which tracks the per­formance of all companies traded in the Ghana Stock Exchange, while the GSE-FSI is an index that measures the performance of a stock on the Accra bourse and helps investors to compare current stock price levels with past prices to calculate market performance.

On the Fixed Income Market (GFIM), the GSE said trading vol­umes increased in the month of November, reaching 12.78 billion, reflecting a 32.16 per cent increase compared to the volume of the previous month GH¢9.67 billion.

“Long-term Government securities transactions constituted 50.33 per cent of market activ­ity, marking a further rise from the 41.43 per cent recorded in the preceding month,” the GSE stated.