GSE Composite Index ends 2023 with 28.08% gain
Abena Amoah, MD, GSE

GSE Composite Index ends 2023 with 28.08% gain

The Ghana Stock Exchange ended 2023 with the Composite Index returning 28.08 per cent despite the challenges in the capital market in the year under review.


This compares to a loss of 12.38 per cent in 2022.

The Financial Stock Index, however recorded a year-to date loss of 7.36 per cent, compared to a loss of 4.61 per cent in 2022.

Volumes, value, and number of trades also saw a dip, compared to the figures recorded in 2022.

The cumulative volume traded amounted to 579,675,315, valued at GHS818.1 million, indicating a decline of 56.59 per cent and 50.11 per cent respectively, compared to the same period in 2022.

Despite a marginal 0.08 per cent decrease in the number of transactions, there was an increase in market capitalisation, rising by 14.55 per cent from GH¢64.5 billion at the end of December 2022 to GH¢73.89 billion by the close of December 2023

The top gainers for the year were BOPP (187.58%), TOTAL (127.00%), UNIL (109.02%), GGBL (65.85%), and MTN (59.09%).

The Ghana Fixed Income Market (GFIM) on the other hand closed the year with a cumulative volume traded of 98.44 billion which is a 57.26% decrease from the 230.32 billion volume traded same period in 2022.

At the close of the year, the bond market recorded a cumulative volume traded of 98.44 billion, reflecting a decrease of 57.26% in comparison to the total volume traded of 230.32 billion observed in the preceding year.

Additionally, the total number of trades for the year declined by 24.36 per cent from 528,188 trades in 2022 to 399,522 trades in 2023.

Long-term Government securities accounted for 32.47 per cent of market activity, while short-term government instruments constituted 58.64 per cent, with corporate trades comprising 8.89 per cent within the year under review.

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