Ghana Stock Exchange Year-to-Date Performance Outperforms Africa’s Five Biggest Stock Exchanges
Significantly trailing behind the 39.08% year-to-date performance of the Composite Index of the Ghana Stock Exchange (GSE), are the stock market indices of Africa’s five biggest stock exchanges in terms of market capitalization.
This is despite the local bourse’s dip in year-to-date performance from 43.56% at half year 2024.
Notwithstanding the 4.48% recorded decline in year-to-date performance, the GSE remains a leader in the West African region ahead of its peers such as the Nigerian Exchange (NGX) and Bourse Régionale des Valeurs Mobilières (BRVM).
The top five largest securities exchanges in Africa include the Johannesburg Stock Exchange (JSE) market capitalization of $1.07 trillion, Casablanca Stock Exchange (MASI) with market capitalization of $69.8 billion, Botswana Stock Exchange (BSE) with market capitalization of $52.5 billion, Nigerian Exchange (NGX) with market capitalization of $41 billion and the Egyptian Exchange (EGX) with market capitalization of $40.3 billion.
The market capitalization of the GSE currently stands at $5.87 billion.
Stock market indices of the Continent’s top five largest stock markets range between 7.76% and 28.44% per data available on african-markets.com.
As of Monday, August 26, 2024, the market indices of JSE, MASI, BSE, NGX, and EGX were as follows; 8.75%, 15.20%, 7.76%, 28.44%, and 21.05% respectively.
The Ghana Stock Exchange (GSE) witnessed a remarkable upswing in trading activity for the month of July, as the market saw 45,819,938 shares change hands, valued at GHS 125,288,545.94.
This represents a notable 29.99% increase in trading volume and an extraordinary 582.35% surge in value compared to the same period last year, highlighting the market’s growing appeal among investors.
Per the GSE’s Summary of July 2024 Market Activities report, from January to July this year, the GSE has recorded a cumulative trading volume of 630,469,257 shares, valued at GHS 1,109,794,504.94. These figures mark a 140.51% rise in trading volume and a 217.64% increase in value year-on-year, underscoring the significant growth and investor confidence in the Ghanaian market.
The GSE Composite Index experienced a robust gain of 17.35% in July, closing at 4,493.92 points, which brings its year-to-date gain to an impressive 43.56%. This surge reflects a buoyant market sentiment and the strong performance of key sectors.
Overall, there are 29 exchanges in Africa, representing 38 nations’ capital markets. Of the 29 stock exchanges in Africa, 21 are members of the African Securities Exchanges Association (ASEA).
