The Ghana Stock Exchange (GSE) ended the year with a strong performance on the bourse despite the challenges in the capital market last year.

The GSE-composite index which tracks the performance of all companies traded on the bourse, closed the year with a return of 28.08 per cent.

However, the Financial Stock Index recorded a year-to-date loss of 7.36 per cent.

A summary report of the full year 2023 market activities of the GSE made available to the Ghanaian Times indicated that the year closed with a decrease in volume, value and number of trades within the equities market, compared to the figures from the previous year.

The statement said the top gainers for the year, namely IIL whose shares rose by 25.00 per cent, BOPP (10.39 per cent), FML (7.62 per cent) and GOIL (3.45) drove the activities on the Accra bourse.

On the equities market, the GSE said the cumulative volume traded amounted to 579,675,316 valued at GH¢819,169,530.95, indicating a decline of 56.59 per cent and 50.11 per cent respectively, compared to the same period last year.

"Despite a marginal 0.08 per cent decrease in the number of transactions, there was a noteworthy increase in market capitalisation, rising by 14.55 per cent from GH¢64.507.32 million at the end of December 2022 to GH¢73.893.17 million by the close of December 2023," the report said.

On the Ghana Fixed Income Market, the statement said the market closed the year with a cumulative volume traded of 98.44 billion which was a 57.26-per cent decrease from the 230.32 billion volume traded in the same period last year.

It said the total number of trades for the year declined by 24.36 per cent from 528.188 trades in 2022 to 399,522 trades in 2023.

"Long-term government securities accounted for 32.47 per cent of market activity, while short-term government instruments constituted per cent with corporate trades comprising 8.89 per cent within the year," the market report stated.