Ghana: Guinness and 4 others lead gains on GSE; market starts year positively

In January 2024, the top gainers on the Ghana Stock Exchange (GSE) included Guinness Ghana Breweries Limited (30.59%), Unilever Ghana (9.74%), Asante Gold (9.70%), Access Bank (8.82%), and Total Ghana (5.56%).

Simultaneously, the GSE market performance began positively in the first month of the year, signaling a growing level of investor confidence within the market.

The Summary of January 2024 Market Activities indicates that the month concluded with favorable returns in both the GSE Composite and Financial Stock Indices, recording gains of 1.35% and 0.45%, respectively, in the equities market.

The heightened market confidence led to a surge in transactions to 2,221, marking a substantial increase of 77.82% compared to the corresponding period last year.

On the fixed-income market, the total traded volume surged to 14.86 billion, representing a significant increase of 48.33% compared to the 10.02 billion traded during the corresponding period in 2023.

Long-term government securities comprised 44% of the market activity, while short-term government instruments constituted 56%.