Ghana Stock Exchange Records Bullish Performance in October - Report

18 November 2024
Ghanaian Times (Accra)
By Kingsley Asare

The Ghana Stock Exchange (GSE) recorded a bullish performance in October demonstrating enhanced growth in the equities market.

The GSE Composite Index closed at 4,385.94 points, bringing the year-to-date gain to 40.12 per cent.

An October summary of market activities, issued by the GSE and copied to the Ghanaian Times in Accra yesterday, said the performance on the Accra bourse drove the market capitalisation to an all-time high of GH₵100.15 billion.

"The GSE Financial Stock Index also experienced an increase, achieving a year-to-date gain of 17.66 per cent," the GSE stated.

It further stated that the top price gainers for the month included ETI which share price soared by 18 per cent, GLD 11 per cent, RBGH 10 per cent, FML 6 per cent, SCB 4 per cent ,GCB 3 per cent TOTAL 2 per cent and GOIL 1 per cent.

On the equities market, the GSE revealed that the market traded 10,147,298 shares valued at GH₵115, 910,551.18 during the month.

The GSE said the losers were MTNGH which share priced fell by 1 per cent, and CAL which share price dropped by 7 per cent.

This represents a 14.51 per cent decline in volume traded and 510.37 per cent increase in value compared to the same period last year.

"A total volume of 943,367,544 shares valued at GH₵1, 968,592,127.43 has traded so far this year, marking an 122.23 per cent increase in volume and a 239.55 per cent rise in value compared to the corresponding period last year," the GSE indicated.

For the Fixed Income market, the GSE said its Fixed Income Market closed October with a traded volume of 16.43 billion, representing a 69.88 per cent increase compared to the same period in 2023.

However, compared to the preceding month, the traded volume of 16.43 billion represent an increase of 5.86 per cent.

Moreover, it noted that Treasury Bills dominated the market, accounting for 78.51 per cent of the total volume traded, followed by Government Bonds at 19.50 per cent, while Corporate Bonds contributed the remaining 1.99 per cent.

The GSE said the year-to-date trading volume on the Fixed Income Market reached 135.19 billion, marking a 96.24 per cent increase over the 68.89 billion traded in the corresponding period last year.

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