GSE’s positive run continues


The Ghana Stock Exchange (GSE) continued its bullish run this year, with its benchmark  Composite Index (GSE-CI) reaching 3,753.69 points in May – bringing its year-to-date (YtD) gain to 19.92 percent.

Similarly, the GSE Financial Stock Index saw a modest increase of 0.41 percent in May, contributing to a YtD gain of 7.95 percent.

Among the month’s top price gainers  were the sole Exchange Traded Fund (ETF) – NewGold, which surged by 12.61 percent, followed by GCB Bank with an 8.06 percent increase, MTN rising by 2.86 percent and Total Energies with a 1.58 percent gain.

A notable development during the month was the listing of Atlantic Lithium, which added GH¢2.85billion to the market; pushing the total value of all listed stocks to GH¢84.02billion by the month’s end.

In May, the volume of shares traded reached 255.7 million, amounting to a total value of GH¢396.2million.

These figures represent a 622.01 percent increase in volume and a 260.52 percent increase in value compared to the same period last year.

Performance metrics since turn of the year also showcased marked growth, with a cumulative trading volume of 544.9 million shares corresponding to GH¢896.5million. This represents a 145.11 percent rise in volume and a 183.49 percent increase in value compared to the same period last year.

Commenting on the performance, Managing Director Abena Amoah said May’s performance highlights GSE’s resilience and the equity market’s growing appeal as investors seek to diversify their portfolios.

“The GSE continues to implement measures that enhance market transparency and efficiency, aiming to attract more domestic and international investors. As the market evolves, we remain optimistic about its future prospects and potential for sustained growth. With ongoing efforts to boost market infrastructure and investor confidence, GSE is well-positioned to maintain its upward trajectory in the coming months,” she said.

As at close of the first trading week in June, the GSE-CI had recorded a 4-week gain  and overall YtD gain of 3.39 percent and 20.51 percent respectively. Similarly, the GSE-FSI also recorded a 4-week gain of 2.16 percent and year-to-date gain of 9.63 percent.


The secondary debt market continued its respectable comeback as the Ghana Fixed Income Market (GFIM) witnessed a total traded volume of 10.39 billion. This figure is double the volume traded in May 2023, as effects of the domestic debt exchange programme (DDEP) were in full swing.

Treasury bills dominated the market, accounting for 74.53 percent of the total volumes traded. Government Bonds followed with a contribution of 24.70 percent, while Corporate Bonds made up the remaining 0.77 percent.

Despite this impressive performance, May’s traded volume represented an 8.38 percent decrease compared to the preceding month. However, the year-on-year comparison painted a more positive picture – with the 10.39 billion volume reflecting a substantial 107.65 percent increase from the same period last year.

Year-to-date trading volume on the GSE’s Fixed Income Market reached 62.27 billion, marking a notable 75.53 percent increase from the 35.47 billion traded in the corresponding period last year.

Market analysts attribute the significant growth to several factors, including improved economic conditions, favourable government policie, and increased investor participation.

Leave a Reply