Stock market continues impressive run — Composite index gains 44.28 points in November
The stock market continues to make an impressive run this year, with the GSE Composite Index recording an increase of 44.28 points in November.
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This brings the year-to-date return to 29.71 per cent.
After a difficult 2022 which saw volumes and value of trades on the local bourse dip significantly, resulting in the composite index ending 2022 with a loss of 12.38 per cent, the market has bounced back in 2023, recording impressive performances in the first 11 months of the year.
The Financial Stock Index on the other hand, also gained 17.52 points during the month, reducing the year-to-date loss to 2.71 per cent. This is after it recorded a loss of 4.61 per cent in 2022.
Both volume and value traded also increased by 1,009.7% and 807.7% respectively, compared to the previous month.
The top price gainers for the month were EGH (18.64%), GLD (2.58%), MTNGH (2.19%), CAL (2%), and FML (0.33%).
The Ghana Fixed Income Market (GFIM) also saw trading volumes increase in November, reaching 12.78 billion, which is a reflection of a 32.16% increase compared to the volumes of the previous month.
Long-term Government securities transactions constituted 50.33% of market activity, marking a further rise from the 41.43% recorded in the preceding month.
The performance of both the equities and fixed-income market has been described as very positive by analysts, considering that the past 12 to 18 months have been very tough for the stock market due to the macro-economic challenges, the Domestic Debt Exchange Programme and global developments which have impacted Issuers, Intermediaries and Investors
Equities
Volume and value traded were 131,714,300 and GH¢172.37 million respectively, both up 2,430.63% and 204.17% compared to the same period last year.
The cumulative traded volume of 556,206,351, valued at GH¢752.13 million, represents a decrease of 57.44% and 49.72% compared to the same period last year.
GFIM
At the close of the month, the total traded volume reached 12.78 billion, reflecting a 32.16% increase compared to the previous month, but a 43.36% decrease when compared to the same period in the previous year.
From January to November 2023, the cumulative volume traded amounted to 81.67 billion, marking a 62.69% decrease from the 218.91 billion traded during the same period in the previous year.
Highlights for November
Total Energies Marketing Ghana PLC announced the payment of an interim dividend of GH¢0,4030 for the 2023 financial year.
The GSE, at the end of trading on Wednesday, November 8, 2023, suspended the listing status of PBC Limited under Rule 13 (1) of the Exchange’s Listing Rules.
BOPP also announced the payment of an interim dividend of GH¢1.3247 per share for the 2023 financial year.
