GSE Composite Index records a 1.47% monthly dip as YTD returns fall to 27.89%

The Ghana Stock Exchange (GSE) Composite Index experienced a modest 1.47% downturn in the month of October compared to the previous month (September) while maintaining a commendable year-to-date return of 27.89%.

Concurrently, the GSE Financial Stock Index displayed resilience, registering an 89.3-point increase over the month, albeit still grappling with a year-to-date loss of 3.56%.

Amidst these market dynamics, the GSE October 2023 report noted that both trading volume and overall value witnessed substantial declines of 79.42% and 77.98%, respectively, in contrast to the prior month’s figures.

Notably, the top-performing equities for the month included EGH, exhibiting a notable 37.21% price gain, along with ACCESS, BOPP, and ASG, posting gains of 9.68%, 6.98%, and 0.11%, respectively.

In terms of market activity, the trading landscape saw a notable slump with a monthly trading volume of 11,869,147 and a total value traded amounting to GHS 18,960,316.20.

These figures reflected a significant decrease of 44.39% in trading volume and a substantial 87.34% reduction in value, compared to the same period in the previous year.

For the year, the cumulative traded volume reached 424,492,051 shares, with a total value of GHS 579,764,222.77, representing declines of 67.39% and 59.72%, respectively, compared to the corresponding period in the preceding year.

These developments underscore the nuanced landscape in the GSE equities market, impacted by a range of economic factors and investor sentiment.