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GSE market value reaches GH¢90bn for the first time; Returns on equities hit 34%

MyPublisher24 by MyPublisher24
July 18, 2024
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GSE market value, Equities
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The Ghana Stock Exchange (GSE) Composite Index saw a notable ascent of 109.96 points, closing at 4,195.72 points and reflecting a year-to-date (YTD) return of 34.04%.

The GSE Financial Stocks Index also experienced an uptick, rising to 2,083.94 points with a YTD gain of 9.59%.

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MTN Ghana (MTNGH) advanced by GH¢0.09, ending the session at GH¢2.10. Enterprise Group Limited (EGL) recovered from a previous GH¢0.05 decline, closing higher at GH¢1.37.

This buoyancy in equity prices propelled the market capitalization by GH¢1.20 billion to GH¢90.09 billion with this being the first time the local bourse has reached the GHS 90 billion mark.

From a market capitalisation of GH¢ 6.4 million in 1990, the market capitalisation of the GSE has witnessed a significant and persistent increase over the period to reach the current market value of GHS 90.09bn.

Trade activity on the exchange was robust, with total turnover soaring to GH¢7,277,762.40, an astonishing increase of 6875.84% over the prior day.

Trading volume surged to 5,518,463 shares across twelve counters.

Outstanding offers included Société Générale Ghana (SOGEGH) at GH¢1.55, Guinness Ghana Breweries (GGBL) at GH¢5.17, and Fan Milk Limited (FML) at GH¢3.70.

EGL dominated the volume chart, with 4,744,779 shares changing hands.

Tags: GSEmarket valuereturns on equities

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