Composite Index of GSE Gains 17.35%

-Sends year-to-date gain to 43.56%

By Isaac AIDOO, Accra

The Ghana Stock Exchange (GSE) witnessed significant growth in July, with the Composite Index rising by 17.35%, reaching a milestone of 4,493.92 points.

This impressive performance brought the year-to-date gain to 43.56%, reflecting a robust recovery in the market.

Market performance and key movers

While the GSE Composite Index surged, the GSE Financial Stock Index saw a slight decline of 0.62% for the month, maintaining a year-to-date gain of 10.53%.

Among the top price gainers in July were MTN Ghana (MTNGH) with a 29.28% increase, Total Petroleum Ghana (TOTAL) up by 27.51%, All Time Ghana (ALLGH) gaining 25%, Republic Bank Ghana (RBGH) with an 8.33% rise, and Goldline Development Limited (GDL) up by 5.01%.

Fixed Income Market activity

The GSE’s Fixed Income Market also experienced significant activity, ending July with a traded volume of 13.87 billion, a 150.44% increase compared to the same month in 2023. Treasury Bills dominated the traded volumes, accounting for 64.17%, followed by Government Bonds at 33.37%, and Corporate Bonds contributing 2.46%.

Trading volume and value

The end of July saw 45,819,938 shares traded, valued at GHS 125,288,545.94.

This represents a 29.99% increase in volume and a remarkable 582.35% increase in value compared to the same period last year.

The year-to-date performance recorded a cumulative trading volume of 630,469,257 shares valued at GH₵1,109,794,504.94, indicating a 140.51% increase in volume and a 217.64% increase in value compared to the same period last year.

Outlook

The strong performance of the Ghana Stock Exchange, particularly the substantial gains in the Composite Index and the significant increase in trading volume and value, reflects growing investor confidence and a positive economic outlook. The GSE continues to be a critical platform for capital formation and investment, driving economic growth and development in Ghana.