Ghana Stock Exchange positive run continues

The bullish performance of the Ghana Stock Exchange (GSE) this year has been sustained in the month of July as the GSE-Composite Index (CI) soared by more than 17 per cent.

The GSE-CI is a market capitalisation-weighted index that tracks the performance of all listed stocks on the Ghana Stock Exchange (GHS).

The July performance drove the year-to-date gain on the Ac­cra bourse to 43.56 per cent.

The composite index in­creased by 17.35 per cent by the end of July reaching a milestone points of 4,439.92 from 3,829.61 in June this year, and between July 2023 and July 2024, the GSE Composite Index rose 50.97 per cent to 4,493.92 in July in 2024 from 2,976.77.

As summary of July 2024 Market Activities issued by the GSE and copied to the Ghanaian Times in Accra on Friday, said total market capitalisation in July 2024 reached GH¢93. 3 billion relative to GH¢85.1 billion in July 2024, representing a 9.70 per cent increase.

The value of shares traded on the equities market in July 2024 stood at GH¢125, 288,545.94 million from GH¢87, 971,418.11 and volume of shares traded in July stood at 45,819,938 from 39,746,912, representing an increase of 15.28 per cent.

The statement said relative to the same period last year, the value of shares increased by 582.35 per cent and the volume of shares increased by 29.99 per cent.

“Year-to-date performance recorded a cumulative trading volume of 630,469.257 shares valued at GH¢1, 109,794,504.94, reflecting a 140.51 per cent increase in volume and a 217.64 per cent in value compared to the same period last year,” the statement said.

However, the statement indicated that the GSE Financial Stock Index (a statistical measure of change in a securities market) experienced a marginal decline of 0.62 per cent, resulting in a year-to-date gain of 10.53 per cent.

It said the top price gainers for the month were MTNGH (29.28 per cent), TOTAL (27.51 per cent), ALLGH (25 per cent), RBGH (8.33 per cent), and GDL (5.01 per cent).

On the Fixed Income Market, the GSE said the market ended the month with a traded volume of 13.87 billion, marking a 150.44 per cent increase compared to July 2023.

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