GSE posts year-to-date return of 31.93 … Highest since 2018

Sustained bullish sentiments in April saw the Ghana Stock Exchange (GSE) Composite Index (GSE-CI) post an impressive year-to-date return of 31.93 per cent, the highest since 2018, the GSE Market Report, has said.

The GSE April Market Report made available to the Ghanaian Times said the strong response by investors drove the month-on-month growth of 15.73 per cent in the GSE-CI to close April 2021 at 2,561.45 points.

On the equities market, the report said “The GSE-CI recorded its highest-ever daily gain of 123.77 points on the back of large gains in the prices of GCB and MTN on the last day of trading in April.  The 31.93 gain in GSE-CI year-to-date was attained on advances in the share prices of 10 companies, which outweighed losses in five companies.”

The report said, the volume and value traded were GHC29.77 million and GHC31.01 million respectively, down 48 per cent and 36 per cent on volumes and values traded the previous month.

“The year-to-date volume traded was up 79 per cent compared to same period last year, to 230.7 million shares while value trade was up 86 per cent to GHC184.5 million during the same period,” the April Market Report indicated.

However, the volume of shares traded in the period under review on the main bourse fell by 48.40 from 57,696,113 in March to 29,773,214 in April.

The value of shares traded also declined by 35.84 from GH48, 459,787.97 in March to GHC31, 093,842.33 in April.

The GSE Ghana Fixed Income Market saw relatively muted volumes traded of 15.9 billion during April, down from 40 per cent from the all-time monthly high of 26.7 billion attained in March 2021 but still an impressive 73 per cent higher than volume traded some period last year.

It said the Government of Ghana securities totaled 14.36 billion, accounting for 90.31 per cent of market share, while corporate notes and bonds accounted for the rest.

BY KINGSLEY ASARE

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