The Ghana Fixed Income Market (GFIM) has attained a high cumulative trade volume of 85 billion by the end of October 2020 as against the 43.8 billion traded by the end Of October 2019.
This depicts a year-on-year increase of approximately 93.4 percent.
This is according to Ghana Stock Exchange latest Summary of Market Results.
Also in the month of September 2020, volumes traded stood around 9.5 billion and shot up to about 10.3 billion in October, 2020, representing a growth of 8.25 percent monthly.
According to the Ghana Stock Exchange (GSE), the Ghana Fixed Income Market “attained a new all time record during the month of October” and this is “246.08 million higher than the previous record set in July, 2020”.
This impressive growth was on the back of improvement in specific sectors of the economy including the financial services sector, telecommunications industry and gold sector, the GSE mentioned
“The month also ended with a flurry of impressive financial results from listed companies despite the economic slow-down resulting grom the COVID-19 impact” that hit the shores of Ghana early March this year, the GSE added
In a similar vein, the equities market recorded an improvement in market liquidity in the month of October 2020, with volumes traded increasing to 35.5 million from 25.3 million recorded in September 2020, indicating a 40 percent surge monthly.
Also, values traded doubled surging 105 percent to settle at GHS46.5 million in October 2020 from the value of GHS22.7 million recorded in September 2020.
Likewise, this feat was also fueled by block trades in banking and telecomunications stocks, the GSE pronounced.
“Cummulative volume and value traded for January to October 2020 was 439,399,099 and GHS341.71 million respectively. Adjusting for the 2019 block trade of 3.48 billion ETI shares valued at GHS348.73 million, the figures recorded so far in 2020 indicate an increase of 52.45% (volume) and 41.37% (value) compared to the same period last year”.
“Despite a doubling of the previous months values traded on the equities market during October, the GSE Composite Index lost some of the gains from September 2020 and closed 1.03% down to 1837.27 by the end of October,”GSE alerted.
Highlights of the month of October shows that it was very impressive and the GSE was commended for organising the International Capital Markets Association (ICMA) Debt Capital Markets in Africa Webinar. Also, the Managing Director (MD) of GSE, Mr, Ekow Afedzie, was elected to Co-Chair the ICMA Pan-African Committee.
Finally, the GSE formally delisted PZ Cussons from the main market after it has fulfilled its obligations under its voluntary delisting programme.