According to the summary report of October 2022 released by the Ghana Stock Exchange (GSE), market activities on the Ghana Stock Exchange has picked up significantly in spite of the macroeconomic challenges occasioned by rising inflation, food and fuel prices.

The summary of October 2022 market activities showed that the value and number of transactions all increased over the previous month.

Taking a cursory look at the report, the volume of shares traded in October 2022 fell by 8.41 per cent to 21,344,190 total shares trades, but the value of shares increased by a whopping 339.33 per cent, settling at GH¢150, 057,248.42 compared to the same period last year.

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Ghana Bourse Records Explosive Growth in Trading Activity

“The cumulative volume traded of 1,301,718,401 valued at GH¢1, 439,309,464.02 represented an increase of 207.08 per cent and 223.25 per cent respectively over the same period last year. The number of transactions increased by 48.04 per cent to 19,285 when compared to the same period last year.”
GSE Report

However, the report showed that the GSE Composite Index recorded no change over the previous month, posting a year-to-date return of -11.80 per cent and 3.80 per cent respectively.

Top Gainers of October

The top gainers for the month of October were SIC Insurance PLC which shares appreciated by 3.17per cent, Ghana Oil Limited (GOIL) with 1.72 per cent share price appreciation, and GCB Bank with 1.27 per cent share price appreciation.

On the Ghana Fixed Income Market (GFIM), the GSE monthly report said the market closed the month with 22.46 billion in volume traded, representing an increase of 50.23 per cent rise from the 14.95 billion traded the previous month, September, 2022.

“GFIM closed the month with a volume traded of 22.46 billion which was a 28.06 per cent increase from the 17.54 billion traded same period last year.”
GSE Report

Meanwhile, the total volume traded between January and October 2022 was 196.35 billion, which was 13.88 per cent higher than the 172.41 billion traded during the same time period in the previous year.

However, the local bourse failed to capitalize on this momentum last week to give the local stocks a further push. The benchmark GSE Composite Index (GSE-CI) shed 11.78 (-0.48%) points to close at 2,449.49, representing a week-on-week loss of 0.44 percent, a month-on-month loss of 0.45 percent, and an overall year-to-date loss of 12.18 percent.