GSE sustains bullish performance in September

The Ghana Stock Exchange (GSE) sustained its bullish performance in September with an improvement in profit on the bourse and market capitalisation.

The year-to-date return on the Accra bourse stood at 47.06 per cent with a two per cent increase in market capitalisation which jumped from GHC62.904.96 million in August to GHC64.170.83 million.

Total Volume of trade on the GSE  in the month of September increased by 47.17 per cent from 20,655,355 in August to 30,413,659 in September, while the value of trade soared by 54.23 per cent from GHc27,486,682.43 in August to GHC42,392,153.80 in September.

The GSE Composite index increased by 3.81 per cent from 2,750.37 in August to 2,855.29 in September.

This was driven by sustained investor confidence in the performance of the Accra bourse.

A summary of September 2021 market activities issued by the GSE said trading on the Accra bourse was driven mainly by increased in the share prices of Fan Milk Limited (FML) which saw a 101.25 per-cent increase in its share price, SOGEGH with a 31.58 increase in its share price, ETI 14.29 per cent in share price and EGL with 12.75 per cent increase in its share price in the period under review.

The GSE said the market witnessed an increase in activities as trade volumes, values and number of transactions notched higher when compared to the previous month.

“The cumulative value of GHc411.10 million and volume of 400.60 million traded for the year represented an increase of 39.26 per cent and a marginal decrease of 0.82 per cent respectively when compared to the previous year,” the report said.

On the equities market, the GSE-CI increased by 47.06 from January to September compared with the 17.75 per cent decrease recorded in the same period last year.

The total volume of trade between January and September 2021 stood at 401 million compared with 402 million recorded in the same period last year, representing a 0.82 per cent decrease.

In terms of value between January and September, 2021, the value of trade increased to 411.103, 001.35 from 295,198,964.78 in the same period last year, representing an increase by 39.26 per cent.

The GSE-CI from January to September, 2021 was 2,855.29 compared with 1,855.56, representing a jump of 53.88 per cent.

The market capitalisation from January to September, 2021 stood at GHc64, 170.83 compared with GHc53, 153.76, in the same period last year, representing an increase of 20.73 per cent.

On the Ghana Fixed Income Market (GFIM), the GSE said the GFIM closed the month with an impressive run, trading a volume of 14.08 billion representing an increase of 1.29 per cent and 48.46 per cent compared to the previous month and same period last year respectively.

“The cumulative volume traded from January to September 2021 of 155.05 billion was more than double the 74.73 billion traded in the same period last year,” the GSE said.

Source: Ghanaian Times