Equities market month review
The GSE markets performance in January reflected investor sentiments in the general macro-economic environment and the Domestic Debt Exchange Programme.
On the equities market, the GSE Composite and Financial Stock Indices recorded negative returns of 3.68 per cent and 0.81 per cent respectively. Thin trading resulted in dip in the number of transactions to 1249, a decline of 16.12 per cent compared to the same period in 2022. Top price gainers like Benso Oil Palm (up 15.03%), NewGold ETF (up 11.6%), and Total Energies (up 1.5%), bucked the trend of general downward pressure on prices.
On the fixed-income market, the total volume traded was 10.09 billion, a decline from the 11.40 billion traded in the previous month and a drop of 39.86 per cent compared to the 16.50 billion traded in January 2022.
The month closed with 1.55 million shares traded, valued at GH¢6.67 million. The figures recorded represent a 95.52 per cent and 82.58 per cent decrease in volume and value traded respectively over the same period last year.
Ghana Fixed Income Market (GFIM)
Volume traded on the debt market closed the month at GH¢10.09 billion which was 39.98 per cent lower than the same period last year. The number of trades during the month was 51,273, which was 5.05 per cent more than the same period last year.
Highlights of the month
1. The terms of participation in the Domestic Debt Exchange Programme have been agreed upon by the government and the Ghana Securities Industry Association (GSIA). The agreement stipulates that the improved terms the programme that were agreed upon with the banks would now apply to all GSIA members.
2. Asante Gold Corporation on January 23, 2023, announced financing up to US$50 million.
3. Aluworks Limited has released its un-audited statement of comprehensive income for the year ended December 31, 2022.
4. Newgold Issuer RF Limited has released its un-audited financial statements for the period ending December 31, 2022.