The Ghana Stock Exchange (GSE) saw shares worth nearly GH¢2 billion traded from January to November 2024, a massive jump of 165.44% compared to GH¢752 million during the same period in 2023.This surge in activity came with a 71.29% increase in the number of shares traded, reaching 952.72 million shares. As a result, the overall market value rose to GH¢108.4 billion, a significant leap from last year’s GH¢74.2 billion.

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Experts credit this growth to a slowdown in the debt market, the comeback of financial stocks, and attractive share prices, which have made the market more liquid.In November alone, the GSE continued to grow, with the Composite Index (GSE-CI) closing at 4,694.37 points, a gain of nearly 50% compared to 29.71% growth in November last year. The Financial Stock Index also made progress, rising by 23.64% during the same period.

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However, trading volumes in November dropped sharply compared to last year, with just 9.35 million shares worth GH¢27.84 million traded – a 92.9% decline in volume and an 83.85% fall in value. Despite this, the market’s year-to-date performance remains robust.Top performers for the month included Ecobank Transnational Incorporated Plc with a 45% price increase, and Cal Bank Plc with 31%.

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Other gainers included Camelot Ghana Plc (17%), Access Bank Ghana Plc (10%), MTN Ghana (10%), and Ecobank Ghana Plc (7%). Companies like Unilever Ghana Plc (3%), GCB Bank Plc (2%), Ghana Oil Company Plc (1%), and TotalEnergies Marketing Ghana Plc (1%) also posted gains.On the downside, Enterprise Group Plc lost 1% of its value, while NewGold, the only exchange-traded fund listed, dropped by 12%.

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As the year nears its end, investors and analysts remain optimistic, expecting the stock market to remain an important driver of investment and economic growth.Experts predict that the current positive trend will continue into 2025, with better market conditions and recovering corporate earnings pushing the Composite Index to 6,850 points by the end of the year – a projected annual growth of 40-50%.

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The growth is expected to spread across key sectors, including banking, telecommunications, and fast-moving consumer goods (FMCG).

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