The November 2022 market report by the Ghana Stock Exchange (GSE) indicated that weak economic fundamentals such as increasing inflation and interest rates continued to impact on the Ghana Stock Exchange’s fixed income market (GFIM) as yields continued during November 2022.

According to the market report, the overall market activity which shows how many shares are currently listed or admitted to trading on the Ghana Stock Exchange, as well as a list of the stocks with the highest turnover in the GSE plummeted in November, compared to the previous month, October. The volume traded, the value traded, and the number of transactions all fell.

However, on the year-on-year basis, the overall volume traded increased. The months of January to November 2022 ended with a total volume traded of 22.56 billion, up 14.73 percent from the 19.66 billion traded during the same time last year.

In all, the total volume traded during November 2022 was 56,668,959, a 27.64 percentage decline over last month’s total. Also, the total floated shares of 5,204,813 represented an 83.04% decline compared to the volume of shares traded during the same period in 2021.

However, the GSE Composite Index and Financial Stock Index, which measure the performance of the stock market, both increased in November 2022 over the previous month by 0.12 percent and 0.34 percent respectively. The year-to-date returns consequently improved slightly to -11.69 and -3.49 percent respectively.

The Biggest Gainers

Trust Bank Gambia (38.18%), BOPP (9.99%) and Asante Gold (9.23%) were the biggest gainers for the month.

Trust Bank Gambia closed the October at a share price of GHS0.60, on the Ghana Stock Exchange, but recorded a 16 pesewas gain over its previous closing price as it ended November at a share price GHS0.76.

Trust Bank Gambia is the 14th most traded stock on the Ghana Stock Exchange over the past three months (Sep 1 – Dec 1, 2022). The bank has traded a total volume of 82,600 shares valued at GHS 48,177 over the period, with an average of 1,311 traded shares per session. A volume high of 60,000 was achieved on October 25 for the same period.

Benso Oil Palm Plantation Limited (BOPP) also ended November at GHS7.60 from GHS6.91 from the previous month.

Benso Oil Palm Plantation began the year with a share price of 6.65 GHS and has since gained 15% on that price valuation, ranking it fifth on the GSE in terms of year-to-date performance. Shareholders can be optimistic about BOPP knowing the stock has accrued 9.9% over the past four-week period- second best on GSE.