As the economy continues to be severely impacted by mounting debt and rising prices, the country’s stock market kept its pessimistic stance in September 2022.
The year-to-date returns for the Ghana Stock Exchange (GSE) Composite Index, which tracks the performance of all businesses traded on the Accra stock exchange, and the Financial Stock Index, which gauges the performance of stocks of publicly traded financial sector businesses, were -11.80 percent and 3.80 percent, respectively.
According to the GSE’s Summary of September 2022 Market Activities, which was recently sent to the Ghanaian Times in Accra, trading on the Accra Stock Exchange slowed down in September compared to August.
It said the top gainers for September were Access Bank which stock rose by 10.47 per cents, SIC 6.45 percent, Cal 5.26 percent and BOPP 2.21 percent.
The GSE said the volume of shares traded increased to 47,720, 862, representing an increase of 56.91 percent, while the value of shares rose to GH¢51,992,322.99, representing an increase of 22.65 of shares traded in the same period last year.
“Cumulative volume of 1,280,374,211 valued at GH¢1, 289,252,215.60 represent an increase of 219.61 percent and 213.61 percent over the same period last year. Number of transactions increased by 48.42 percent when compared to the same period last year,” the GSE, said.
The GSE said a total market capitalisation also fell by 0.29 percent in September 2022 to GH¢63, 985.81 from GH¢64,170.83 in August, 2022.
On the Ghana Fixed Income Market (GFIM), the GSE said the market closed the month with a “volume traded of 14.95 billion which is a 6.35 percent was increase from the 14.06 billion traded same period last year.”
“The total volume traded between January and September 2022 was 173.89 billion, which was 12.27 percent higher than the 154.87 billion traded during the same time period in the previous year,” the GSE, said.