The Ghana Stock Exchange recorded an impressive month-on-month growth of 15.73% in the month of April to post an impressive annual return of 31.9% for investors in the first four months of this year.
According to its Monthly Summary Report, investors responded positively to the strong financial results released by listed companies.
The GSE Composite Index which measures the annual return recorded its biggest daily gain on the back of large gains in GCB Bank and MTN Ghana on the last day of trading in the month of April 2021.
The 31.9% return to investors was attained on advances in the share prices of 10 companies, which outweighed losses in five firms.
Value traded in April 2021 was however estimated at a little above GH¢31 million, down 36%.
But year-to-date value traded was up 86% to GH¢184 million during the same period last year.
On the Ghana Fixed Income Market, value traded was up by more than 80% to GH¢16.6 billion.
The government of Ghana securities totalled GH¢14.36, accounting for 90.31% of the market share.
Managing Director of the Ghana Stock Exchange, Ekow Afedzie said the market looks exciting this year and the performance will be sustained.
“The exchange is sustaining its impressive performance since the beginning of the year. As we speak, the index has gone up by about 35.73% [cedi term]. And we encourage the various potential investors and also issuers to take advantage of what is happening on the market now, especially the corporate world to utilize the market to raise long term capital, either by the way of equity or using the bond market to do corporate bonds.”
“Is important that as a country, we encourage our various companies to raise long term capital for financing projects and expansion, so that they can employ more youth in the country as we grow”, Mr. Afedzie pointed out.
MTN Ghana led the pack as the biggest gainer, followed by GCB Bank and Societe Generale.
Source: Joy News