Ghana Stock Exchange (GSE) recorded strong financial performance in October with a year-to-date return of 27.89 per cent.
However, the GSE Composite Index (CI) recorded a 1.47 per cent dip compared to the previous month.
The GSE-CI is a major stock market index which tracks the performance of all companies traded in the Ghana Stock Exchange.
Apress statement on the summary of October 2023 market activities of the GSE, copied to the Ghanaian Times in Accra on Monday, said the GSE Financial Stock Index continued to improve, climbing 89.3 points in the month to record a year-to-date loss of 3.56 per cent.
The GSE-FSI is an index that measures the performance of a stock on the Accra bourse and helps investors to compare current stock price levels with past prices to calculate market performance.
The statement said both volume and value traded fell by 79.42 per cent and 77.98 per cent respectively compared to the previous month.
It said the top price gainers for the month were EGH (37.21 per cent), ACCESS (9.68 per cent), BOPP (6.98 per cent), and ASG (0.11 per cent).
On the Ghana Fixed Income Market (GFIM), the statement said the market saw trading volumes hit GH¢9.67 billion, up by 29.68 per cent on the previous month’s volumes.
“Trades in long-term government securities accounted for 41.43 per cent of market activity, double the 20 per cent achieved in the previous month, and a likely indication of growing investor interest in long-term government securities,” the GSE stated.
The statement indicated that the volume and value traded were GH¢11, 869,147 and GH¢18,960, 316.20 respectively, both down by 44.39 per cent and 87.34 per cent compared to the same period last year.
“The cumulative traded volume of 424,492,051 valued at GH¢579,764,222.77, represents a decrease of 67.39 per cent and 59.72 per cent compared to the same period last year,” the GSE stated.
The statement said by the end of October, the total volume of securities traded reached GH¢9.67 billion, representing a 29.68 per cent increase compared to the previous month, but a 56.92 per cent decrease when compared to the same period.
“From January to October 23, the cumulative volume traded amounted to GH¢68.89 billion, marking a 64.91 decrease from the GH¢196.35 billion traded during the period in the previous year,” the statement noted.
The statement said the total market capitalisation in October dipped by 0.61 per cent to GH¢73,736.96 billion from GH¢74,189.35, while the market capitalisation from January to October 2023 went up by 13.92 per cent to GH¢73,736.96 billion against the GH¢64,727.18 billion recorded the same period last year.
BY KINGSLEY ASARE & AGNES OWUSU
