GSE Records 71.29% Surge in Trading Volume; 165.44% Rise in Value on Year-To-Date Basis
The Ghana Stock Exchange (GSE) has reported a substantial increase in year-to-date trading activity for 2024, according to its November Summary of Market Activities report.
A total of 952,722,148 shares valued at GHS 1,996,433,915.76 have been traded so far this year, representing a 71.29% rise in volume and a 165.44% increase in value compared to the same period in 2023.
November Performance
In contrast, trading activity during November saw a sharp decline.
A total of 9,354,604 shares valued at GHS 27,841,788.33 were traded, reflecting a 92.90% drop in volume and an 83.85% decline in value compared to November last year.
Market Indices
The GSE Composite Index (GSE-CI) at end-November closed at 4,694.37 points, achieving a year-to-date (YTD) gain of 49.97%.
The GSE Financial Stock Index (GSE-FSI) also improved, adding 113.71 points to record a YTD gain of 23.64%.
Top Performers and Decliners in November
Gainers:
- Ecobank Transnational Incorporated Plc: +45%
- Cal Bank Plc: +31%
- Camelot Ghana Plc: +17%
- Access Bank Ghana Plc: +10%
- MTN Ghana: +10%
- Ecobank Ghana Plc: +7%
- Unilever Ghana Plc: +3%
- GCB Bank Plc: +2%
- Ghana Oil Company Plc: +1%
- TotalEnergies Marketing Ghana Plc: +1%
Losers:
- Enterprise Group Plc: -1%
- NewGold: -12%
Outlook
While the equities market has delivered impressive growth for the year, the marked reduction in November’s trade activity indicates potential caution among investors as the year-end approaches.
Market observers will be monitoring December’s performance closely to assess whether the year closes on a high note or not.
