GSE: Trading Value Soars 40.55% Despite 75.94% Slump in Trading Volume in August
For the month of August 2024, the Ghana Stock Exchange (GSE) saw a sharp contraction in trading volume, with 22,329,368 shares changing hands—a 75.94% decline compared to the same period last year.
Despite the slump in volume, total trading value surged by 40.55% year-on-year, reaching GHS 175.9 million.
Cumulatively, 652.8 million shares, valued at GHS 1.29 billion, have been traded so far this year, reflecting an 83.91% jump in volume and a staggering 170.94% rise in value from the corresponding period in 2023.
Per the GSE’s Summary of August 2024 Market Activities Report, the GSE Composite Index dipped 2.98% in August, closing at 4,359.85 points, paring the year-to-date gain to 39.28%.
Conversely, the GSE Financial Stock Index posted a modest 0.77% rise, pushing its year-to-date gain to 11.38%.
Among the month’s standout performers were Guinness Ghana Breweries (GGBL) with a 9.79% price increase, Camelot Ghana (CMLT) up 9.09%, and Benso Oil Palm Plantation (BOPP) rising 8.70%.
Unilever Ghana (UNIL) and Enterprise Group (EGL) followed with gains of 8.33% and 6.45%, respectively.
However, losses were recorded by major stocks, with MTN Ghana down by 5.98% and CAL Bank falling by 8.82%. The mixed performance points to ongoing volatility in the market amidst broader macroeconomic uncertainties.
