Guinness, 4 others top gainers on GSE in January 2024; market starts 2024 on positive note

Guinness Ghana Breweries Limited (30.59%), Unilever Ghana (9.74%), Asante Gold (9.70%), Access Bank (8.82%), and Total Ghana (5.56%) were the top gainers on the Ghana Stock Exchange (GSE) in January 2024.

At the same time, the GSE market performance started on a positive note in the first month of the year, indicative of an increasing level of investor confidence within the market.

According to the Summary of January 2024 Market Activities, the month ended with favorable returns in both the GSE Composite and Financial Stock Indices, registering gains of 1.35% and 0.45%, respectively, in the equities market.

Increased confidence in the market resulted in an increase in the number of transactions to 2,221, a 77.82% increase compared to the same period last year.

On the fixed-income market, the total traded volume increased to 14.86 billion, marking a substantial 48.33% rise compared to the 10.02 billion traded during the corresponding period in 2023.

The long-term government securities accounted for44% of the market activity, while short-term government instruments constituted 56%.