GSE Sees Huge Surge In Trading Activity

– Impressive 165.44% increase compared to 2023

Story: Isaac AIDOO, Accra

THE Ghana Stock Exchange (GSE) has witnessed a remarkable surge in trading activity in 2024, with the value of shares traded between January and November reaching almost GH₵2billion (GH₵1.996 billion), representing an impressive 165.44% increase compared to GH₵752 million recorded during the same period in 2023.

The surge was accompanied by a 71.29% increase in traded volumes, with 952.72 million shares exchanging hands. The strong performance also boosted market capitalization, which soared to GH₵108.4 billion by November, a significant jump from GH₵74.2 billion at the same time in 2023.

Fixed Income Market Growth

The GSE’s Fixed Income Market also recorded significant progress, closing November with a traded volume of 18.32 billion. This marked a 43.38% increase compared to the same period last year.

Treasury Bills dominated the segment, accounting for 68.30% of the total volume traded, followed by Government Bonds (28.22%) and Corporate Bonds (3.48%).

Equities Market Performance

The Equities Market sustained its growth momentum, with the GSE Composite Index closing November at 4,694.37 points, reflecting a year-to-date (YTD) gain of 49.97%. The GSE Financial Stock Index also posted a YTD gain of 23.64%, climbing by 113.71 points.

Top price gainers for November included:

            •           Ecobank Transnational Incorporated Plc (+45%)

            •           Cal Bank Plc (+31%)

            •           Camelot Ghana Plc (+17%)

            •           Access Bank Ghana Plc (+10%)

            •           MTN Ghana (+10%)

Other notable gainers were Ecobank Ghana Plc (+7%), Unilever Ghana Plc (+3%), GCB Bank Plc (+2%), Ghana Oil Company Plc (+1%), and TotalEnergies Marketing Ghana Plc (+1%).

On the losing side were Enterprise Group Plc (-1%) and NewGold (-12%).

Decline in monthly equities trading

Despite the strong year-to-date performance, equities trading in November saw a sharp decline compared to the same period in 2023. The market traded 9,354,604 shares valued at GH₵27.84 million during the month, reflecting a 92.90% drop in volume and an 83.85% decline in value. The GSE’s record-breaking performance in 2024 underscores the growing investor confidence in Ghana’s capital markets, driven by a robust equities market, expanding fixed-income opportunities, and a thriving financial landscape.