Ghana Stock Exchange sees mixed performance in 2023
TLDR
- Ghana Stock Exchange composite index gained 28.08% in 2023, a significant turnaround from a loss in 2022.
- The financial index ended the year with a year-to-date loss of 7.36%, extending the losses from the previous year.
- Volumes, value, and the number of trades declined compared to 2022, but market capitalization increased by 14.55% by December 2023.
- Composite index: 28.08% gain, a turnaround from 2022
- Financial index: 7.36% loss, extending previous year's losses
- Volumes, value, and trades declined; market capitalization increased by 14.55%
The Ghana Stock Exchange market witnessed a varied performance in 2023, with the composite index concluding the year with a gain of 28.08%, while the financial index ended the year with a year-to-date loss of 7.36%.
The 28.08% gains achieved by the composite index mark a notable turnaround from a 12.38% loss in 2022. However, the Financial Stock Index extended its 2022 losses from 4.61% to 7.36% in 2023. Volumes, value, and the number of trades also experienced a decline compared to the figures recorded in 2022.
The cumulative volume traded totaled 579,675,315, valued at GHS 818.1 million, signifying a decrease of 56.59% and 50.11%, respectively, compared to the same period in 2022. Despite a marginal 0.08% decrease in the number of transactions, there was an increase in market capitalization, rising by 14.55% by the close of December 2023.
Key Takeaways
In 2023, the GSE participated in the "Ring the Bell for Gender Equality" initiative for International Women’s Day, featuring a panel discussion on technology for gender equality. Bayport Savings and Loans listed the first series under a GHS500 million medium-term notes and bond program. Constant Capital became a Licensed Dealing Member of the GSE in May. The GSE and Global Reporting Initiative organized a capacity-building workshop on ESG disclosures. Collaborating with ASEA, GSE conducted a stakeholder workshop on the African Exchanges Linkage Project. Additionally, GSE launched the 'Youth Investment Education' campaign, impacting over 15,000 students nationwide.
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