Total Equity Trading Value on Ghana Stock Exchange Hit GHS 1.1 Billion at End-July 2024
The Ghana Stock Exchange (GSE) witnessed a remarkable upswing in trading activity for the month of July, as the market saw 45,819,938 shares change hands, valued at GHS 125,288,545.94.
This represents a notable 29.99% increase in trading volume and an extraordinary 582.35% surge in value compared to the same period last year, highlighting the market’s growing appeal among investors.
Per the GSE’s Summary of July 2024 Market Activities report, from January to July this year, the GSE has recorded a cumulative trading volume of 630,469,257 shares, valued at GHS 1,109,794,504.94. These figures mark a 140.51% rise in trading volume and a 217.64% increase in value year-on-year, underscoring the significant growth and investor confidence in the Ghanaian market.
The GSE Composite Index experienced a robust gain of 17.35% in July, closing at 4,493.92 points, which brings its year-to-date gain to an impressive 43.56%. This surge reflects a buoyant market sentiment and the strong performance of key sectors.
In contrast, the GSE Financial Stock Index saw a marginal decline of 0.62% over the month, resulting in a year-to-date gain of 10.53%. This slight dip suggests a more cautious outlook within the financial sector, despite the overall positive market trends.
Leading the market gains, MTN Ghana (MTNGH) saw its share price soar by 29.28%, driven by robust investor demand. Total Petroleum Ghana (TOTAL) followed with a 27.51% increase, while Aluworks Ghana (ALLGH) posted a 25% gain. Republic Bank Ghana (RBGH) and Gold Coast Securities (GDL) also recorded notable increases of 8.33% and 5.01% respectively.
The GSE’s performance in July reflects a period of significant growth and heightened investor activity, particularly in the telecommunications and petroleum sectors. The substantial increases in trading volume and value indicate a robust market environment and continued investor confidence.
