GSE Composite Index posts fourth consecutive month of gains, achieving 29.81% YTD return
The GSE Composite Index achieved its fourth consecutive month of gains, closing September with an increase of 87.56 points. This performance resulted in a year-to-date return of 29.81% for the index. Additionally, the GSE Financial Stock Index recorded an advancement of 134 points during the month, which helped reduce its year-to-date losses to 7.92%.
On the equities market, both trading volume and value experienced declines, decreasing by 37.88% and 31.10%, respectively, compared to the previous month. Despite the decrease in trading activity, some stocks managed to perform well. The top five price gainers for the month were FML (118.12%), GGBL (34.92%), SOGEGH (31.67%), UNIL (18.08%), and SCB (17.0%).
The total volume of shares traded during the month reached 57.66 million, with a total value of GHS 86.23 million. These figures represent increases of 20.83% and 65.85%, respectively, compared to the same period last year.
However, when considering cumulative traded volume for the year, which stands at 412.62 million shares valued at GHS 560.77 million, there has been a significant decrease of 67.77% in volume and 56.5% in value compared to the same period last year.
These trends and performance figures provide valuable insights into the dynamics of the Ghanaian stock market, and investors and market participants will continue to monitor these developments closely.
