Ghana: GSE Records Bullish Performance in November

7 December 2022
Ghanaian Times (Accra)
By Kingsley Asare

Trading activities on the Ghana Stock Exchange (GSE) recorded a bullish performance in the month of November despite the difficult macroeconomic environment.

The GSE Composite Index and Financial Stock Index, which measures the performance of the stock market, both increased in November over the previous month by 0.12 per cent and 0.34 per cent respectively.

The year-to-date returns consequently improved slightly to -11.69 and-3.49 per cent respectively.

The report on summary of market activities of the GSE for November copied to the Ghanaian Times in Accra yesterday, however, said market activity was lower in November compared to October as volume traded, value traded, and number of transactions all fell.

The report said TBL (38.18 per cent), BOPP(9.99 per cent), and GLD (9.23 per cent) were the biggest gainers for the month.

It said increasing inflation and interest rates continued to impact on the GSE's fixed income market, Ghana Fixed Income Market and yields continued to rise during November.

"The month however ended with a volume traded of 22.56 billion, up14.73 per cent from the 19.66 billion trade during the same time last year and up 0.45 per cent over the volume traded in October of 22.46 billion," the report said.

On the Ghana Fixed Income Market the volume trade during November 2022 was GH¢56, 668, 959,a 27.64- per cent increase over the same period in 2021, even though the volume traded of 5,204,813 shares represented an 83.04 per cent decrease compared to the volume of shares traded during the same period in 2021.

"However, the 2022 cumulative volume traded of 1,306,923,214 shares valued atGH¢1, 495,978,423.86 represent an increase of187.49 per and205.52 per cent over the same period last year, " the report said.

Similarly, it said the number of transactions increased by 41.26 per cent to 20,700 when compared to the same period last year.

"The GFIM closed the month with a volume traded of 22.56 billion which was a14.73 per cent increase from the 19.66 billion traded same period last year," it said.

The report said total volume traded between January and November 2022 was 218,906,934,720 billion, which was 13.96 higher than the 192.07 billion traded during the same period in the previous year.

Read the original article on Ghanaian Times.

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