Equities market continues growth trajectory

The Equities Market continued its growth trajectory in the month of October, with the Ghana Stock Exchange (GSE) Composite Index closing at 4,385.94 points.

This brought the year-to-date (YTD) gain to 40.12 per cent. Additionally, market capitalisation reached an all-time high of GHC100.15 billion. 

The GSE Financial Stock Index also experienced an increase, achieving a YTD gain of 17.66 per cent according to the latest report released by the local bourse. 

Gainers/losers

Top price gainers for the month included ETI (18 per cent), GLD (11 per cent), RBGH (10 per cent), FML (6 per cent), SCB (4 per cent), GCB (3 per cent), TOTAL (2 per cent), and GOIL (1 per cent). 

Telecoms giant, MTN Ghana, and CalBank were, however, on the losing side with negative one per cent and negative seven per cent respectively.

The GSE’s Fixed Income Market closed the month in review with a traded volume of 16.43 billion, representing a 69.88 per cent increase. This is compared to the same period in 2023. 

Dominance

Treasury Bills (Tbills) dominated the market, accounting for 78.51 per cent of the total volume traded, followed by Government Bonds at 19.50 per cent, while Corporate Bonds contributed the remaining 1.99 per cent.

The market traded 10,147,298 shares valued at GH¢115, 910, 551.18 during the month.

This represents a 14.51 per cent decline in volume traded and 510.37 per cent increase in value compared to the same period last year.

A total volume of 943,367,544 shares, valued at GHC1, 968, 592, 127.43 has traded so far this year, marking a 122.23 per cent increase in volume and a 239.55 per cent rise in value compared to the corresponding period last year.

The month concluded with at total traded volume of 16.43 billion, reflecting a 5.86 per cent increase compared to the preceding month.

However, this volume represents a 69.88  per cent increase compared to the same period last year.

Year-to-date trading volume reached 135.19 billion, marking a 96.24 per cent increase over the 68.89 billion traded in the corresponding period last year.

GSE activities

In the period under review, the GSE, in collaboration with the World Federation of Exchanges (WFE) and International Organisation of Securities Commissions (IOSCO), organised this year’s Ring the Bell for Financial Literacy event on the theme: “Technology and Digital Finance: A Catalyst for Capital Market Growth,” on October 8, 2024.

In the same period, the Ghana Stock Exchange’s Licensed Dealing Members (LDMs) CEOs Forum sparked insightful discussions on future opportunities and growth strategies for Ghana’s capital market. 

Participants explored innovative approaches to drive development and enhance the market’s potential.

Again, a team from the GSE, led by its Managing Director, Abena Amoah, paid a courtesy call on the Managing Director of Kasapreko PLC, Richard Adjei, as part of a stakeholder outreach following Kasapreko’s bond issuance on the Ghana Fixed Income Market (GFIM). 

At the meeting, Mr Adjei highlighted the positive impact of accessing patient capital with favourable interest rates in the company’s February and September issuances. 

They have raised GH¢351.18 million out of the plan of GH¢600 million so far.

Guinness Ghana Breweries Plc took its turn on the Facts Behind the Figures programme on October 2, 2024, while CalBank Plc took its turn on the same programme on November 5, 2024. Ms Amoah was a panellist at the KPMG Africa CEO Outlook programme. 

She emphasised the importance of CEOs integrating ESG into their corporate strategies to promote sustainability and create a better world.