Ghana Stock Exchange market value hits ¢90bn
The Market Capitalisation on the Ghana Stock Exchange (GSE) has reached ¢90 billion for the first time since establishment.
This is what measures the value of all shares and equities on the market.
According to Managers on the bourse, this milestone reached for the first time indicates the expanded opportunities available for investors on the bourse and the need for more Small and Medium Enterprises to consider when making investment decisions.
The Composite Index also returned 34 percent growth to investors as at end of Thursday, July 18.
The 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%.
MTN Ghana (MTNGH) advanced by ¢0.09, ending the session at ¢2.10.
Enterprise Group Limited (EGL) recovered from a previous ¢0.05 loss, closing higher at ¢1.37.
The growth in equity prices propelled the market capitalization by GH¢1.20 billion to ¢90.09 billion making it the first time the bourse has reached such a mark.
From a market capitalisation of ¢ 6.4 million in 1990, the market capitalisation of the GSE has witnessed a significant increase over the period to reach the current market value.
Trade activity on the exchange was robust, with total turnover soaring to ¢7,277,762.40, an increase of 6875.84% over the prior day.
Trading volume surged to 5,518,463 shares across twelve counters by the end of Thursday.
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.
Source : MyjoyOnline.com
