Investor confidence in Ghana Stock Exchange high

Data from the Ghana Stock Exchange has indicated that investor sentiment on the Ghana Stock Exchange (GSE) remained high as five listed firms recorded impressive gains in the month of October.

The top firms that made significant gains were Benso Oil Palm Plantation (74.83 per cent), Fanmilk (39.75 per cent), Republic Bank (39.53 per cent), Enterprise Ghana (9.13 per cent) and Total (7.96 per cent).

The GSE Composite Index, a stock market index which tracks the performance of all companies traded in the GSE, closed the month at 2,864.31 with a year-to-date return of 47.52 per cent.

On month-on-month comparison, the GSE-CE closed at 2,864.31 in October from 1,837.27 in September, representing an increase of 55.90 per cent, and year-on-year, the GSE-CI closed at October 21, 2021 at 2,864.31 from 2,855.29, representing an increase of 0.32 per cent.

The GSE in a statement on the summary of October 2021 market activities copied to the Ghanaian Times, said the cumulative value of shares traded for the year on the Accra bourse stood at GHc445.26 million and volume of 423.91 million, which represent a gain of 30.30 per cent and a marginal dip of 3.53 per cent respectively when compared to the previous year.

The value of shares traded on the Accra bourse as of October 2020 stood at GHc341.8 million with a value of 439.4 million.

“The month closed with 23 million shares traded on the equities market, valued at GHc34.2 million which represents a decrease of 23.4 per cent and 19.4 per cent respectively compared to September 2021,” the statement said.

Total market capitalisation of the Accra bourse in the period under review inched up marginally to GHc64.3 million from GHc64.2 million in September.

On the Fixed Income Market, the GSE said the market continued to record gains in performance closing the month with a volume traded at 17.56 billion, which was a 71.04 per cent increase compared to the same period last year.

“The cumulative volume of trade from January to October 2021 of 172.61 billion was 103.06 more than the 85.00 billion traded in the same period last year,” the GSE said.

BY TIMES REPORTER

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