• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, November 29, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

GSE Composite Index Loses More than 3% in the First 2 Months- BoG

March 22, 2022
Stephen M.CbyStephen M.C
in Securities/Markets, Sub Top Stories1
0
Court Orders Bank of Ghana to Produce Bank Statement of Capital Bank

Dr Ernest Addison, BoG Governor

The Bank of Ghana (BoG) in its current Monetary Policy Committee report for March, 2022, has disclosed that the Ghana Stock Exchange Composite Index (GSE-CI) lost more than 3 per cent in the first two months of the year 2022.

According to the Bank of Ghana, taking the data for the year 2021 into consideration, the composite index made a gain of over 40 per cent to build on the loss made in the previous year, 2020. However, it noted that the index started terribly this year compared to the previous year.

“On the capital market, the Ghana Stock Exchange Composite Index (GSE-CI) recorded a gain of 43.7 percent in 2021, relative to a loss of 14.0 percent in 2020. For the first two months of the year, [2022] the index has recorded a loss of 3.33 percent.”

BoG MPC Report

The Central Bank, meanwhile, explained some factors that are responsible for the Ghana Stock Exchange Composite Index making losses in the first two months of the Year- January to February. The Central Bank observed that the imposition of tax on the listed securities on the local bourse and many other factors pushed investors to move to other investment platforms which adversely affected the GSE.

RelatedPosts

Ghana’s Remittance Flows Soar to an Impressive US$3.2 Billion

Riding the Waves: Ghana’s Economic Odyssey Through 2023’s Commodity Market

BoG Maintains 30% Monetary Policy Anticipating A Firm-rooted Downward Inflation

“The year-to-date loss has been driven by a variety of factors to include the re-imposition of capital gains tax on securities listed on the GSE which is inducing some investors to switch to Government securities. Other factors include selling pressures, poor performance of some companies, relatively higher yields on fixed income securities, uncertainty induced by inflation and exchange rate pressures, as well as portfolio reversals.”

BoG MPC Report

Current Composite Index on the Accra Bourse

The Benchmark Composite Index in March has marginally recovered some of the losses suffered in the first two months of the year. As at Monday, Mach 21, 2022, the performance of GSE market indices advanced marginally by 0.02 per cent. The benchmark GSE Composite Index (GSE-CI) inched up by 0.60 points to close at 2,739.23 points. Nonetheless, this represents a week on week loss of 0.55 per cent and a month on month gain of 1.71 per cent, but an overall year-to-date loss of 1.8 per cent.

On the other hand, the GSE Financial Stocks Index (GSE-FSI) also increased by 0.05 per cent to reach 2,168.38 points, also cumulating to a week on week gain of 0.63 per cent and a month on month gain of 2.63 per cent. Unlike the composite index which made a loss in year to date, the financial sector stocks index made a year-to-date gain of 0.77 per cent.

This was driven mainly by the expansion in the financial sector stocks which include banking stocks and insurance. Some of the biggest gainers in the financial sector this year include: SIC Insurance Company PLC, GCB Bank PLC, Ecobank Transnational Incorporated, Cal Bank, and others.

Many Experts are of the opinion that, given the myriad of factors responsible for the slow start of the GSE in the new year, it will be difficult for the Exchange to bounce back, though some experts indicated that the GSE will recover some of the early losses along the way.

READ ALSO: Government Should’ve Listened To Prevent Economic Hardship- Professor Kwesi Prempeh

Tags: Composite IndexGhana Stock ExchangeMPC

Related Posts

Ghana’s Remittance Flows Soar to an Impressive US$3.2 Billion
Economy

Ghana’s Remittance Flows Soar to an Impressive US$3.2 Billion

November 28, 2023
Riding the Waves: Ghana’s Economic Odyssey Through 2023’s Commodity Market
One Top Story

Riding the Waves: Ghana’s Economic Odyssey Through 2023’s Commodity Market

November 28, 2023
Owners of Closed  Forex Bureaus May Lose Licenses Forever- BoG
Economics

BoG Maintains 30% Monetary Policy Anticipating A Firm-rooted Downward Inflation

November 28, 2023
Reliance on T-bills Unsustainable Despite IMF Assurances- Economist
Securities/Markets

T-Bill Triumph: Government Secures Record Funding with High-Interest Auction

November 27, 2023
GSE Trades Flat as Trading Activity Dips for the Second-Time Running to Close the Week
Securities/Markets

Stability Reigns on the Ghana Stock Exchange Despite Soaring Trading Volumes

November 25, 2023
Ghana’s 2024 Budget; PwC Says Ghana Is Rather Turning The Corner
Economy

2024 Budget; PwC Calls For Creative Revenue Collection Strategies In Informal Sector

November 23, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

VGMA Wasn’t Fair to me– Piesie Esther

Next Post

US Senate Begins Work on Supreme Court Nominee, Jackson

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Germany and Ghana Forge €145.9 Million Pact for Sustainable Development
Banking

Germany and Ghana Forge €145.9 Million Pact for Sustainable Development

by Stephen M.CNovember 28, 2023
Israel Says Truce Violated In Northern Gaza
Asia

Israel Says Truce Violated In Northern Gaza

by Comfort AmpomaaNovember 28, 2023
WANEP calls on ECOWAS Chair to issue a statement that shows Nigerians “are not alone”
General News

President Urged To Expedite Assent To Criminal Offences Bill

by Angeller AshongNovember 28, 2023
Deputy Majority Leader Back Calls For The Non-Criminalization Of LGBTQ Persons
General News

Deputy Majority Leader Back Calls For The Non-Criminalization Of LGBTQ Persons

by Evans Junior OwuNovember 28, 2023
Ghana’s Trade Balance Improves Significantly to A Surplus of US$1.8 billion in First Half of 2023- BoG
General News

Laying Of Import Restriction Bill Postponed Again

by Stephen M.CNovember 28, 2023
Ecobank, AGF Sign $200m Risk-Sharing Agreement
Banking

Ecobank, AGF Sign $200m Risk-Sharing Agreement

by Stephen M.CNovember 28, 2023
Germany and Ghana Forge €145.9 Million Pact for Sustainable Development
Israel Says Truce Violated In Northern Gaza
WANEP calls on ECOWAS Chair to issue a statement that shows Nigerians “are not alone”
Deputy Majority Leader Back Calls For The Non-Criminalization Of LGBTQ Persons
Ghana’s Trade Balance Improves Significantly to A Surplus of US$1.8 billion in First Half of 2023- BoG
Ecobank, AGF Sign $200m Risk-Sharing Agreement
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In