With barely three weeks to end the year, the Ghana Stock Exchange (GSE) equity market is expected to end 2020 strongly with investor activities soaring.
The market is doing better now than the greater part of this year which it experienced some turbulent moments.
According to November 2020 performance of the market, the Accra Bourse recorded its record monthly trading volume of over GH¢115 million shares and value of a little over GH¢101 million.
This comes despite the GSE Composite Index registering a -19% return for investors.
“Investors’ appetite for equities is fuelled by the cheap valuations on the market – about half of the issuers (16 issuers) are trading at price/earnings multiples (PE’s) of five or below, and 20 issuers are trading at single digit PE’s”, the GSE said in a circular.
MTN Ghana dominated trading activities with volume and value traded, making up 88.5% and 61.44% respectively.
|November2020||October 2020||% change|
|Market Capitalisation (GH¢)||53,806.25||53,115.38||-0.05|
Meanwhile, the bond market recorded trades in excess of GH¢10 billion in November 2020.
This unseated the July 2020 trading by GH¢38 million to set a new record as the second highest traded for the year.
It also represented a 72.0% growth compared to the same period in 2019.
Source: Joy Business