GGBL, 4 others top gainers on GSE in July 2023; market returns 21.30% for investors

Guinness Ghana Breweries Limited (32.08%) led the top gainers on the Ghana Stock Exchange (GSE) in July 2023 as the strong run of the stock market continued.

The GSE consequently recorded a year-to-date return of 21.30%.

The other top four performing stocks in the month under review were Societe Generale (23.73%), MTN Ghana (8.33%), CalBank (6.67%) and TotalEnergies (5.43%).

The GSE Financial Stock Index also closed higher than the previous month, reducing its negative year-to-date return to 16.44%.

In terms of trading activities, both volume and value traded increased significantly by 669.42% and 24.25% percent respectively compared to the previous month.

Strong performances recorded by listed companies in their half-year results and bullish investor sentiments accounted for this positive outturn.

Meanwhile, the Ghana Fixed Income Market closed the month with 5.54 billion in volume traded, which was a marginal increase of 2.40% over the previous month and a 71% decline from the same period in 2022.

Trades in short-term government securities accounted for 40% of activity on the market.

Volume and value traded were 35,248, 344 and ¢18.361 million, both down 45.21% and 70.14% respectively, compared to the same period last year.