GSE Market Capitalisation Surge to Circa GHS 100 Billion; YTD Returns 20% Above Inflation Rate
The Ghana Stock Exchange (GSE) Composite Index closed Wednesday’s trading session unchanged at 4,406.56 points, maintaining a year-to-date (YTD) gain or return of 40.77%.
The 40.77% YTD gain or return on equities beats the country’s current headline inflation rate of 20.40% making investments on the local bourse one of the most attractive and profitable options for investors seeking real returns in a challenging economic environment.
Similarly, the GSE Financial Stock Index held steady at 2,200.01 points, reflecting a YTD return of 15.69%.
The trading session witnessed a significant surge in trading activity with the volume of shares traded spiking by a staggering 672,837% to 265,103,532 shares, compared to the previous session’s 39,395 shares.
The value of shares traded also soared, more than doubling to GH¢521,855,460.91 from GH¢102,917.49 in the previous trading session.
Total market capitalization of the local bourse on the back increased volume and value traded of listed equities rose by GH¢6.62 billion to reach GH¢99.56 billion – approximately GHS 100 billion.
On the price movement front, NewGold (GLD) was the sole gainer, with its share price rising by GH¢5.74 to close at GH¢403.70.
Among the top five traded stocks, MTN Ghana (MTNGH) led the pack, with an impressive 265,056,095 shares exchanged at a value of GH¢514,295,298.74.
Other heavily traded equities included CAL Bank, GLD, GOIL, and SIC, though their volumes paled in comparison to MTNGH.
