GSE Closes 2024 On High Note
– Composite Index records 56.17% return, highest since 2013
Story: Isaac AIDOO, Accra
THE Ghana Stock Exchange (GSE) closed 2024 on a high note, with the GSE Composite Index achieving a remarkable return of 56.17%, the highest recorded since 2013.
The Financial Stock Index also performed impressively, posting a gain of 25.20%, its best performance since 2017.
Trade values soared by 163.15% compared to the previous year, reaching GH₵2.15 billion. Among the top gainers were Unilever Ghana Plc, which led the pack with a staggering 140.44% return, followed by Ecobank Transnational Inc. (106.67%), GCB Bank Plc (87.35%), NewGold (78.72%), and MTN Ghana (78.57%).
However, some equities faced declines, with CAL Bank Ghana Plc (-27.08%) and Enterprise Group Plc (-17.15%) leading the list of losers. Other underperformers included Meridian Marshalls Holding Company (-9.09%), Dannex Ayrton Starwin Plc (-5.00%), and Société Générale Ghana Plc (-4.46%).
In the fixed income market, the Ghana Fixed Income Market (GFIM) recorded a total traded volume of 174 billion, a significant 76.76% increase from the 98.44 billion traded in 2023.
Short-term government instruments dominated the market, accounting for 69.19% of the volumes traded, followed by long-term government securities (28.76%), corporate bonds (1.34%), and Bank of Ghana securities (0.71%).
The strong performance of the GSE underscores growing investor confidence in Ghana’s equity and fixed income markets, bolstered by robust gains in select stocks and increased trading activity.
Market analysts attribute the stellar returns to improved economic fundamentals, strong corporate earnings, and strategic reforms aimed at enhancing market efficiency.
As the GSE continues to build on this momentum, stakeholders are optimistic that the 2025 market outlook will further consolidate these gains, offering opportunities for both domestic and international investors.
The cumulative volume traded amounted to 992,188,948, valued at GHS 2,153,054,280.73, indicating an increase of 71.16% and 163.15%, respectively, compared to the same period last year. Market capitalization also increased, rising by 50.70% from GHS 73,893.17 million at the end of December 2023 to GHS 111,356.09 million by the close of December 2024.
