Ghana Stock Exchange Optimistic About Good Performance This Year

gseThe Ghana Stock Exchange (GSE) has said it is optimistic that the performance of the Accra Bourse will see a significant improvement this year.

Already, the two market indices, the GSE Composite Index and the GSE Financial Stock Index which are used to measure the performance of the market have recorded remarkable upward movements.

Dr. Sam Mensah, Chairman of the Governing Council, GSE, speaking at the annual general meeting of the Exchange, said the performance of the GSE for the first half of the year had indicated exciting times for the GSE.

From January to July 2013, the GSE Composite Index stood at 61.39 per cent, as against 6.06 per cent for the whole of 2012. The GSE Financial Stock Index equally stood at 61.66 per cent, as against 0.53 per cent for the entire 2012.

Total market capitalisation of the bank for the period under review stood at GH¢55.78 billion as against GH¢54.95 billion in 2012 with domestic capitalisation doubling from GH¢5.57 billion to GH¢10.57 billion.

Total volume of trade was equally on the rise. At the close of business on July 31, total trade stood at 209.16 million as against 218.13 million, for the whole of last year.

In terms of value, total trade stood at GH¢230.51 million, as against GH¢102.2 million for the whole of last year.

Listed companies also recorded significant price increases during the first half year. Out of the 34 companies, CAL led the gainers with 194 per cent followed by EGL with 191 per cent, BOPP, 150 per cent, GCB, 134 per cent, and PZC, 122 per cent.

Dr. Mensah described last year as a very difficult one for the GSE as the volume of shares traded during the year was only 218.1 million valued at GH 102.1 million, down from 419.79 shares valued at GH 446.6 million.

“The return on the market as measured by the GSE Composite Index for 2012 was 23.81 per cent against negative 3.10 per cent for 2011 while the GS Financial Stocks Index recorded a gain of 20.48 per cent compared with negative 13.69 per cent for 2011,” he said.

Mr. Kofi.S Yamoah, Managing Director of the GSE said the exchange would this year vigorously promote the Ghana Alternative Market.

The GSE, he said, would also commence a programme for the review of its Rules of Membership, Listing and Surveillance, and Clearing and Settlement.

“While continuing to pursue new listings in the equity and corporate bond category, we will follow through discussions towards actualizing the listing of new products such as index-based derivatives,” he said. - David Adadevoh

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