Source: Graphic Business
In April 2024, the market capitalization of the Ghana Stock Exchange (GSE) surged to an unprecedented GH¢80.20 billion, marking a significant milestone.
This remarkable increase was driven by substantial gains in the share prices of various companies, underscoring the positive market sentiment and bolstering investor confidence.
As outlined in the GSE’s April 2024 Summary of Market Activities, the GSE Composite Index experienced a notable surge of 6.68 percent during the month, contributing to a year-to-date gain of 17.7 percent. Additionally, the Financial Stock Index saw a gain of 2.14 percent.
Among the standout performers in April 2024 were GCB with a 23.03% increase, MTN Ghana with 10.76 percent, Camelot with 10 percent, Access Bank with 7.87 percent, New Gold with 5.72 percent, SIC with 4.17 percent, Unilever with 1.27 percent, BOPP with 0.33 percent, and TotalEnergies with 0.11 percent growth.
Simultaneously, the Ghana Fixed Income Market experienced a surge in trade volumes, reaching 11.34 billion, a substantial 98.47 percent rise compared to the previous year’s 5.71 billion.
Notably, long-term government securities contributed 30.10 percent to the overall market activity, while short-term government instruments made up 69.51 percent of the market’s activity during the period under review.
THE AUTHOR: Graphic Business
