The stock market in the country maintained its bearish position in September 2022 as rising debt and growing inflation continue to bite hard on the economy.
The Ghana Stock Exchange (GSE) Composite Index, which tracks the performance of all companies traded on the Accra bourse, and Financial Stock Index (which measures stocks of publicly-listed financial sector companies) posted year-to-date returns of -11.80 per cent and 3.80 per cent respectively.
The GSE in its summary of September 2022 market activities copied to the Ghanaian Times in Accra yesterday, said activities on the Accra bourse slowed down in the month of September compared with the previous month.
It said the top gainers for September were Access Bank which stock rose by 10.47 per cents, SIC 6.45 per cent, Cal 5.26 per cent and BOPP 2.21 per cent.
The GSE said the volume of shares traded increased to 47,720, 862, representing an increase of 56.91 per cent, 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 per cent and 213.61 per cent over the same period last year. Number of transactions increased by 48.42 per cent when compared to the same period last year,” the GSE, said.
The GSE said a total market capitalisation also fell by 0.29 per cent 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 per cent 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 per cent higher than the 154.87 billion traded during the same time period in the previous year,” the GSE said.