GSE continues sterling performance, 10 firms grow market value in June 2021

The Ghana Stock Exchange (GSE) continued its sterling performance in the month of June, as 10 companies appreciated in value and investors enjoyed growth in their share prices.

According to the Summary of June Market Activities, value traded was 7.13% higher than that of May this year.

MTN Ghana, Enterprise Group, Total, Benso Oil Palm Plantation and Pesewa One Plc were the top five stocks in June. Their performance contributed to the Accra Bourse achievement as the best performing stock in Africa in the first half of this year.

Value traded was ¢50 million, representing a 7.13% over the previous month, but volume traded went down by about 38% as 37 million shares traded.

Alex Boahen is the Head of Databank Research and tells Joy Business that the market looks promising for the rest of the year.

“There is still more room for the market to grow, especially from valuation perspective. This is because some of the key equities that are listed like FanMilk, some of the banks and even MTN Ghana, we still believe that there is more potential for those stocks to actually rise and that could lift the entire market up.”

Meanwhile, the Ghana Fixed Income Market also continued its impressive performance with a cumulative trade volume of ¢107.6 billion which is 117% higher than the same period last year.

At the close of the month, a total trade volume of ¢18.16 billion was traded on the bond market. This represents 13.13 percent higher over the month of May.

 Jan-June 2021Jan-June 2020
GSE CI YTD36.16%-15.83%
Market Capitalization61.3bn52.9bn

Source: Joy Business

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