Market activities on GSE picking up despite difficult economic conditions
Market activities on the Ghana Stock Exchange (GSE) continue to pick up in spite of the difficult macroeconomic conditions and the lingering effects of the COVID-19 pandemic.
A statement on the summary of market activities for last month released by the GSE has indicated that the month of August witnessed a significant increase in market activity as volume, value, and the number of transactions all increased over the previous month.
It said the volume of shares traded was 77,249,447 at GH¢114,171,744.82 both up by 273.8 per cent and 315.37 per cent respectively on volumes and values traded same period last month.
“The cumulative volume of 1,232,653,349 valued at GH¢1,237,259,893.31 represent an increase of 232.98 per cent and 235.56 per cent over the same period last year. The number of transactions year-to-date was 15,325 which was a 50.32 per cent increase compared to the same period last year,” the GSE, said.
However, the GSE said the Composite Index and Financial Stock Index ended the month with Year-to-Date (YTD) returns of -10.05 per cent and -3.34 per cent, respectively, reflecting a marginal decline in the GSE equity market compared to the month prior.
It said the total market capitalisation increased by 2.45 per cent to GH¢64, 445.45 in August this year relative to the GH¢62, 904, 96 recorded in the same period last year.
Between July and August this year, the volume of shares rose from 64,332,881in July to 64,332,881 to 77,249,447 in August, representing an increase of 20.08 per cent, while the value of shares traded in increase from GH¢61,493,287.83 in July to GH¢114,171,744.82, representing an increase of 85.67 per cent.
It said the gainers for the month were ACCESS recording gains of 42.35 per cent, GLD 12.76 per cent, BOPP 5.67 per cent, SOGEGH 2.83 per cent, CAL 2.70 per cent , and TOTAL 1.95 per cent.
The GSE said the GFIM ended the month with 15.71 billion in volume traded, a 13.09 per cent rise from the 13.89 billion traded during the same period in the previous year.
“The GFIM closed the month with a volume traded of 15.71 billion which was a 13.09 per cent increase from the 13.89 billion traded same period last year,” the GSE, said.
It said the total volume traded between January and August 2022 was 158.94 billion, which was 12.87 per cent larger than the 140.82 billion traded during the same time period in the previous year.
BY KINGSLEY ASARE
