Trade on GSE doubles in February despite slow start

The Ghana Stock Exchange (GSE) ended the month of February with increase in trading activities on the market.

The number of transactions on the GSE doubled from 893 in February last year to 1,710 by the close of February this year.

This was disclosed in the summary of February trading activities on the Accra bourse copied to the Ghanaian Times.

It attributed the increase in transactions on the Accra bourse to pick up in the economy last year, following the easing of restrictions and the coronavirus infections, as the GSE mimics the economy.

The Managing Director of GSE, MrEkowAfedzie, during the maiden GSE MD’s breakfast with the press last month said the GSE mimics the economy.

He said when the economy performed well the GSE also did better.

The February stock market summary report, however, revealed the Ghanaian stock market returned a loss in February amid the difficult economic situation driven by rising inflation and high cost of fuel.

“The market started on a slow note for the first two months of the year with a return of -3.33 per cent,” the Ghana Stock Exchange (GSE) said in the February market summary report.

“On the equities market, the volume and value traded were 31,108,719 and GH¢26, 429,969.61 respectively, both 30.10 and 24.97 on volume and values traded compared to the same period last year,” the report said.

The top gainers in the year-to-date were SIC which shares appreciated by 87.50 per cent, EGL at 18.28 per cent, and GGBL at 17.78 per cent

The GSE Composite Index fell by 2.54 per cent from 2,766.80 to 2,696.45 between January and February.

Total market capitalisation fell by 2.50 per cent from GH¢64.5 million in January to GH¢62.9 million in February.

On the Ghana Fixed Income, the report said the bond market closed the month recording gains over the previous month.

“The month-closed with a total volume trade at 19.33 billion representing an increase of 15.89 per cent compared to total volume trades in the previous month and an increase of 27.41 per cent compared to the same period last year,” the report, said.

It said the cumulative volume traded from January to February 2022 of 36.01 billion was 8.07 per cent more than the 33.32 billion traded in the same period last year.


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