Gains in share prices push Composite Index by 14%
Strong gains in some share prices saw the GSE Composite Index (GSE CI) increase by 14.01 per cent in March compared to last month, bringing the year-to-date gain to 12.33 per cent.
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The continued rally of the GSE-CI was underpinned by dividend announcements from some listed companies and investors seeking to diversify their holdings.
Volumes and values traded were up significantly, 2,730 per cent and 588 per cent respectively, over the previous month mostly due to block trades in MTN Ghana shares.
TOTAL (39.8 per cent), MTN GH (35.87 per cent), UNIL (33.78 per cent), BOPP (20.93 per cent), and GGBL (9.49 per cent) make up the top five price gainers of the month.
The GSE Financial Stock Index, on the other hand, achieved a year-to date loss of 11.98 per cent, in line with investors’ expectations of reduced profitability in 2022 for financial stocks.
GSE’s fixed income market, closed March 2023 with a volume traded of 5.57 billion, a decline of 39.26 per cent and 80.18 per cent respectively over the previous month’s and same period in 2022 numbers.
Equities
Volume and value traded were 173,658,609 and GH¢167,969,700.48 respectively, both down 19.22 per cent and 29.17 per cent compared to the same period last year.
Cumulative volume of 181,344,788 valued at GH¢199,048,178.41 represents a decrease of 35.39 per cent and 34.06 per cent to the same period last year.
Yields on short-term government securities came down significantly during the month: the 91-day Treasury bill ended the month at 19.39 per cent from 35.55 per cent at the beginning March 2023.
The new GoG bonds witnessed thin trading during its first full month on trading, post DDEP.
The month closed with a total volume trade of 5.57 billion representing a decline of 39.26 per cent compared to total volume trades in the previous month and a decline of 80.18 per cent compared to the same period last year.
The cumulative volume traded from January to March 2023 of 24.76 billion was a 61.35 per cent dip from the 64.07 billion traded in the same period last year.
Highlights for the month
• The GSE participated in the High Commission of Canada’s Breakfast event on the theme:‘Growing SMEs’ for members of the Canada Ghana Chamber of Commerce.
•GSE joined other Stock Exchanges around the world to “Ring the Bell for Gender Equality ”to mark the International Women’s Day. The day was marked with a panel discussion on the theme “DigitALL: Innovation and Technology for Gender Equality.
•GSE Signed an MoU with Minerals Income Investment Fund(MIIF) on March 23, 2023 to support the listing of Mining Companies that MIIF had a stake in.
• The MD of GSE, Madam Abena Amoah, chaired the Graphic/Stanbic Breakfast Meeting held at Labadi Beach Hotel on the theme: 'DDEP:Lessons and Implications for How You invest'.
• Tullow Oil Ghana Plc. released its full year 2022 annual report.
• Anglogold Ashanti Limited announced the payment of a final dividend of 257.60 South African cents (Gross 322 South African cents less 15 per cent tax) for the financial year ended December 31, 2022.
• SIC Insurance Plc. released its unaudited financial statements for the year ended December 2022.
•Samba Foods Ltd released its unaudited financial statements for the year ended December 2022.
• Societe Generale Ghana Plc. released its unaudited financial statements for the year ended December 2022.
• Ecobank Transnational Incorporated released its audited financial statement for the year ended December 2022 and announced payment of a final dividend of 0.11 US cents per share, subject to appropriate withholding tax and approval for the 2022 financial year.
• Unilever Ghana Plc published its audited financial statement for the year ended December 2022.
•Fan Milk Ghana Plc released its audited financial statement for the year ended December 2022.