GSE Composite Index Hits 11-Year High With 56.17% Returns For Investors in 2024
Ghana’s equity market delivered a stellar performance in 2024, with the Ghana Stock Exchange Composite Index (GSE-CI) achieving a 56.17% return, its highest since 2013.
This marks an 11-year high, underscoring a robust year for investors in the equities market, according to the GSE Full Year Market Activities report.
The Financial Stock Index (FSI) also posted impressive gains, recording a 25.20% return, its best performance since 2017.
Trading Volume and Market Capitalization Surge
Cumulative equity trading volumes for 2024 reached 992.19 million shares, valued at GHS 2.15 billion and representing year-on-year increases of 71.16% in volume and 163.15% in value.
Market capitalization of the GSE grew by 50.70%, rising from GHS 73.89 billion at the end of 2023 to GHS 111.36 billion by the close of 2024, reflecting increased investor activity and confidence.
Top Gainers and Losers For the Year
The year saw significant gains for key stocks, with Unilever Ghana leading the charge at 140.44%, followed by Ecobank Transnational Inc. (106.67%), GCB Bank (87.35%), NewGold (78.72%), and MTN Ghana (78.57%).
Conversely, CAL Bank was the top loser, declining by 27.08%, followed by Enterprise Group (-17.15%), Meridian Marshalls Holding Company (-9.09%), Dannex Ayrton Starwin (-5%), and Societe Generale Ghana (-4.46%).
Market Resilience and Outlook
The exceptional returns and increased trading activity highlight the resilience of Ghana’s equity market, even amidst economic challenges.
With a strong performance in 2024, the market sets a positive tone for investor confidence in 2025.
