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GSE gains GHS 8.7bn in market capitalisation

4 years ago
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GSE gains GHS 8.7bn in market capitalisation

The Ghana Stock Exchange (GSE) for the review period between January 2021 and January 2022 gained in excess of GHS 8.73 billion in market capitalisation.

This is despite the adverse impact of the Covid-19 pandemic on the activities of the stock exchange which saw investors divest from the stock market to seek refuge in gold at the peak of the pandemic.

Per the stock market’s monthly report, the local bourse grew in value from GHS 55.33bn in January 2021 to GHS 64.09bn at end-January 2022.

Mining, finance and ICT stocks accounted for the majority of the bourse’s market value.

Mining stocks for instance accounted for more than GHS 33bn of the bourse’s value with finance and ICT stocks accounting for GHS 13.9bn and GHS 13.6bn respectively.

Read: BoG auctions bills worth GHS 1.79bn

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The increased market value of the local bourse reflected in the benchmark Composite Index which increased from 2,072 points at end-January 2021 to 2,766 points at end-January 2022.

The GSE-FSI also increased from 1,861 points at end-January 2021 to 2,131 points at end-January 2022.

Total volume traded in the month of January 2022 per the report was 34,578,491 as against 98,730,624 in January 2021 representing a 64.98% decline on a year-on-year basis.

For total value traded, some GHS 38,283,767 was traded in the month of January 2022, this is however lower than the GHS 69,716,581 total value traded in January 2021 which also marked a 45.09% decline in total value traded on a year-on-year basis.

MTN dominated stocks on the market recording 93.01% and 90.20% in total volume and value traded for the month of January 2022.

Source: norvanreports
Tags: COVID-19 pandemicghanaGSE gains GHS 8.7bn in market capitalisation
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