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GSE soars 50% in 2024 despite plunging trade volumes
Ghana’s equity market has demonstrated remarkable strength in 2024, with the Composite Index surging nearly 50% year-to-date through November, significantly outpacing the 29.71% gain recorded in the same period last year. The market’s robust performance extended to the financial sector, where the Financial Stock Index posted a healthy gain of 23.64%, marking a dramatic turnaround … The post GSE soars 50% in 2024 despite plunging trade volumes appeared first on Asaase Radio.
Ghana’s equity market has demonstrated remarkable strength in 2024, with the Composite Index surging nearly 50% year-to-date through November, significantly outpacing the 29.71% gain recorded in the same period last year.
The market’s robust performance extended to the financial sector, where the Financial Stock Index posted a healthy gain of 23.64%, marking a dramatic turnaround from the previous year’s contraction of 2.71%. Total market capitalisation expanded substantially, climbing 46.66% to reach GHC108.36 billion, tripling the 15.08% growth witnessed in November 2023.
However, trading activity has seen a sharp decline.
Trading volume plummeted by 92.9%, falling from 131.71 million shares in November 2023 to just 9.35 million shares.
Similarly, the value of traded shares experienced a significant decrease of 83.85%, dropping from GHC172.37 billion to GHC27.84 billion.
The contrasting trends between market performance and trading activity suggest a shifting dynamic in Ghana’s equity market, with strong price appreciation occurring despite substantially reduced trading volumes.
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The post GSE soars 50% in 2024 despite plunging trade volumes appeared first on Asaase Radio.
