Market activities on GSE pick up despite economic challenges – Report

Market activities on the Ghana Stock Exchange (GSE) picked up significantly in spite of the macroeconomic challenges occasioned by rising inflation, food and fuel prices.

The summary of October 2022 market activities issued by the GSE and copied to the Ghanaian Times in Accra yesterday, said the value and number of transactions all increased over the previous month.

It said the volume of shares traded in October 2022 fell by 8.41 per cent to 21,344,190, but the value increased by 339.33 per cent to GH¢150, 057,248.42 compared to the same period last year.

“The cumulative volume traded of 1,301,718,401 valued at GH¢1, 439,309,464.02 represented an increase of 207.08 per cent and 223.25 per cent respectively over the same period last year.

The number of transactions increased by 48.04 per cent to 19,285 when compared to the same period last year,” the October Market Summary said.

However, the report, said the GSE Composite Index recorded no change over the previous month, posting a year-to-date return of -11.80 per cent and 3.80 per cent respectively.

It said the top gainers for the month were SIC which shares appreciated by 3.17per cent, GOIL 1.72 per cent, and GCB 1.27 per cent.

On the Ghana Fixed Income Market (GFIM), the GSE said the market closed the month with 22.46 billion in volume traded, representing an increase of 50.23 per cent rise from the 14.95 billion traded the previous month.

“GFIM closed the month with a volume traded of 22.46 billion which was a 28.06 per cent increase from the 17.54 billion traded same period last year,” the GSE, said.

It said the total volume traded between January and October 2022 was 196.35 billion, which was 13.88 per cent higher than the 172.41 billion traded during the same time period in the previous year.