Inflation, interest rates impact negatively on GSE in November 2022 – Report

Increasing inflation and interest rates continued to impact on the Ghana Stock Exchange’s fixed income market (GFIM) as yields continued to rise during November 2022.

According to the November 2022 market report by the GSE, the month of November 2022 however ended with a volume traded of 22.56 billion, up 14.73% from the 19.66 billion traded during the same time last year.

The volume traded during November 2022 was 56,668,959, a 27.64% increase over the same period in 2021, even though the volume traded of 5,204,813 shares represented an 83.04% decrease compared to the volume of shares traded during the same period in 2021.

Meanwhile, the GSE Composite Index and Financial Stock Index, which measure the performance of the stock market, both increased in November 2022 over the previous month by 0.12% and 0.34% respectively.

The year-to-date returns consequently improved slightly to -11.69 and -3.49% respectively.

However, market activity was lower in November 2022 compared to October 2022 as volume traded, value traded, and number of transactions all fell.

Trust Bank Gambia (38.18%), BOPP (9.99%) and Asante Gold (9.23%) were the biggest gainers for the month.