GSE bounces back strongly; market capitalization hits GH¢100.1bn

The market capitalization on the Ghana Stock Exchange (GSE) increased significantly to GH¢100.1 billion in October 2024.

This is compared with GH¢73.9 billion recorded in October 2023.

According to the Bank of Ghana, the increase in market capitalization was driven by appreciation in share prices, underpinned by renewed investor confidence particularly in the mining, IT, and finance sectors, and issuance of new shares by banks as part of the capital restoration efforts.

The Central Bank described the performance of stocks on the GSE as strong.

“With limitations in alternative investment options in the money market resulting from the Domestic Debt Exchange, investor appetite for stocks traded on the GSE has increased considerably”, it added.

The activities on the exchange have also benefited from improved macroeconomic conditions.

In September 2024, nine stocks increased in value on the GSE compared to five losers.