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GSE registers six top gainers in March 2024; MTN, NewGold record all-time high prices

Source The Ghana Report

The Ghana Stock Exchange (GSE) recorded six top gainers in March 2024.

The equities market continued to rally positively during the month with two companies, Scancom Plc (MTNGhana) and NewGold, attaining new all-time high share prices.

According to the March 2024 Summary of Market Activities, the top price gainers for the month were NewGold (20.83%), Scancom PLC or MTN Ghana (12.86%), Unilever Ghana PLC (10.13%), Access Bank Ghana PLC (9.88%), GCB Bank PLC (0.88%) and Ecobank Ghana PLC (0.83%%).

The GSE Composite Index gained an impressive 7.07% during March 2024, bringing the year-to-date gains to 10.41%. The Financial Stock Index showed a moderate gain of 0.38%, bringing its year-to-date gain to 5.25%.

GFIM closed March with 126% increase

The Ghana Fixed Income Market also closed with a notable traded volume of 12.61 billion, reflecting a substantial 126.43% increase compared to the 5.57 billion traded during the same period last year.

Long-term government securities contributed 33.26% to the market activity, with short-term government instruments comprising 65.84%, and corporate securities making up the remaining 0.90%.

JAN-MARCH 2024 JAN-MARCH 2023 % CHANGE
GSE CI YTD Change 10.41% 12.33%
Volume 254,217,012 181,344,788 40.18
Value (GH¢) 365,983,113.48 199,048,178.41 83.87
Market Capitalization (GH¢) 77.70bn 67.84bn 14.52%
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