Ghana Stock Exchange Records 510% Increase in Market Trading Value in October 2024
The Ghana Stock Exchange (GSE) reported robust trading activity in October 2024, despite a downturn in trading volumes.
According to the GSE’s October Summary of Market Activities, the equities market registered a total of 10,147,298 shares traded, valued at GHS 115.91 million.
Although this represented a 14.51% year-over-year decline in trading volumes, it marked a significant 510.37% increase in trading value compared to October 2023.
Year-to-date trading data reveals heightened market activity, with 943.37 million shares valued at GHS 1.97 billion traded so far this year.
This reflects a 122.23% rise in trading volumes and a 239.55% increase in total value compared to the same period in 2023.
The GSE Composite Index (GSE-CI) also posted notable gains, closing at 4,385.94 points in October, translating into a 40.12% year-to-date increase.
Concurrently, the GSE Financial Stock Index gained 17.66% YTD, driven by solid performances in key financial stocks.
Market capitalization of the GSE surged to a record GHS 100.15 billion, a new high for the GSE.
Leading gainers included Ecobank Transnational Incorporated (ETI) with an 18% price increase, followed by GLD (11%), Republic Bank Ghana (RBGH) at 10%, Fan Milk Limited (FML) at 6%, Standard Chartered Bank (SCB) with a 4% rise, GCB at 3%, Total Petroleum Ghana (TOTAL) at 2%, and GOIL at 1%.
However, MTN Ghana (MTNGH) and CAL Bank (CAL) registered losses of 1% and 7%, respectively.
The October report underscores sustained investor confidence and resilience in Ghana’s equities market, even amid mixed trading volume trends, highlighting potential for continued growth as year-end approaches.
