Market activities on Accra bourse pick up in February …as DDEP conclusion brings back confidence
The conclusion of activities involving the Domestic Debt Exchange Programme is bringing back some confidence to the market as market activities on the Accra bourse picked up in February, the Ghana Stock Exchange (GSE) has said.
The summary of February 2023 market activities issued by the GSE in Accra last Friday said, “The GSE Composite Index performed better in February to recover some of the losses recorded earlier in the year”.
It said both the GSE Composite and Financial Stock indices recorded negative returns of 1.47 per cent and 5.17 per cent respectively, but that was an improvement on the January performance.
In January this year, the GSE Composite and Financial Stock indices recorded negative returns of 3.68 per cent and 0.81 per cent respectively.
“The February performance was driven by some of the listed companies posting strong financials and the conclusion of activities surrounding the Domestic Debt Exchange programme,” the GSE stated.
The top price gainer for the month was UNIL, its share price rose to 19.60 per cent, TOTAL 12.56 per cent, MTNGH 12.20 per cent, and BOPP 9.66 per cent.
“The volume and value traded were 6,136,508 and GH¢ 24, 407,843.29 respectively, both down by 80.27 per cent and 7.65 per cent compared to the same period last year,” the GSE said.
The report said the year-to-date volume of 7,686,179 valued at GH¢31, 078,477.93 represents a decrease of 88.30 per cent and 51.98 per cent compared to the same period last year.
Highlighting the performance of the Ghana Fixed Income (Bond), the market closed the month with a volume trade of 9.17 billion, representing a decline of 52.50 per cent compared to the same period in 2022.
“The month closed with a total volume trade of 9.17 billion, representing a decline of 9.48 per cent compared to the total volume traded in the month of January and a decline of 52.50 per cent compared to the same period last year,” the GSE stated.
It said the year-to-date volume traded of 19.19 billion was 46.00 per cent less than the 35.96 billion traded in the same period last year.
BY KINGSLEY ASARE