GSE Composite Index rises as Market Cap hits GH₵109 billion

THE Ghana Stock Exchange (GSE) Composite Index posted gains during the fourth trading session of the week, rising by 14.90 points to close at 4,708.05 points. This represents a year-to-date growth of 50.88%, signalling robust performance in Ghana’s equities market.

The GSE Financial Stock Index, however, remained unchanged at 2,370.11 points, reflecting a year-to-date increase of 24.64%.

Market capitalization saw a 0.20% boost, reaching GH₵109 billion, translating to a year-to-date growth of 47.55%.

Notable Gainers

Notable gainers during the session included Guinness Ghana Breweries, which appreciated by GH₵0.40 to close at GH₵5.10, Unilever Ghana, which added GH₵0.99 to settle at GH₵17.99, and New Gold, which rose by GH₵12.59 to end the day at GH₵389.65 per share.

Notably, there were no losers recorded during the session.

Trading activity surged, with volumes climbing by 204.17% to 606,956 shares, driving the total transaction value to GH₵13,651,001. Guinness Ghana Breweries led the session, accounting for 49.43% of the total trading volume.

Cedi Weakens Against Major Currencies
Despite the strong performance of the equities market, the Ghanaian cedi continued its downward trajectory against major trading currencies. The cedi depreciated by 0.34% against the US dollar, closing at GH₵14.73 per dollar, marking a year-to-date depreciation of 19.35%.

Against the British pound, the cedi fell by 0.09% to close at GH₵18.72, reflecting a year-to-date depreciation of 19.19%. The cedi also declined by 0.54% against the euro, ending the session at GH₵15.48, with a year-to-date depreciation of 15.24%. These rates are based on the Bank of Ghana’s interbank mid-rate figures. The contrasting trends between the GSE’s impressive gains and the cedi’s continued depreciation underscore the complexities of Ghana’s financial landscape as the year-end approaches.