GSE witnesses 622% and 260% jump in volume and value of traded equities in May 2024
In a display of robust growth, the Ghana Stock Exchange (GSE) in its market activities report for the month of May, reported a substantial surge in trading activity for May 2024. The volume of shares traded reached an unprecedented 255,720,710, translating to a total value of GHS 396,155,038.26.
This marks an extraordinary 622.01% increase in volume and a 260.52% rise in value compared to the same period last year, reflecting burgeoning investor confidence and heightened market activity.
Year-to-date figures further underscore this positive trend, with the cumulative trading volume hitting 544,902,407 shares, valued at GHS 896,534,540.76.
These figures represent a significant 145.11% rise in volume and an impressive 183.49% increase in value from the previous year.
The GSE Composite Index saw a 1.81% gain in May, reaching a new all-time high of 3,753.69 points, contributing to a year-to-date gain of 19.92%.
Concurrently, the GSE Financial Stock Index posted a modest 0.41% increase, resulting in a 7.95% gain year-to-date.
Market leaders for the month included NewGold, which soared by 12.61%, GCB Bank with an 8.06% rise, MTN Ghana appreciating by 2.86%, and TOTAL climbing by 1.58%.
These gains are indicative of the diversified growth within the market, driven by both commodity-based and financial sector stocks.
In a significant development, Atlantic Lithium debuted on the GSE in May, adding GHS 2.85 billion to the total market capitalization.
This listing elevated the value of all stocks listed on the exchange to GHS 84.02 billion by the end of the month, marking a notable expansion in market size and investor base.
This remarkable performance highlights the GSE’s growing stature as a vital hub for investment in West Africa, underscoring a period of robust economic activity and enhanced market liquidity.
The GSE’s strategic initiatives appear to be driving a renaissance in Ghanaian equity markets, fostering a more dynamic and resilient investment environment.
