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Finance & InvestmentWed, 20 Oct, 21

Equities Traded On The Ghana Stock Exchange Is Drowning

Equities Traded On The Ghana Stock Exchange Is Drowning

After being adjudged the second-best performing stock market in Africa the Ghana Stock Exchange, has over the past week seen a swift downwards movement of the equities traded on the stock market

The descending movement of the equities traded on the stock market is greatly influenced by the movement of the market capitalisation and volume of equities traded on the stock exchange.

From Monday October 11, 2021 to Friday October 15, 2021, equities have seen a movement in terms of market capitalization from GHC64,352.04 to GHC64,097.65. Whilst the volume of equities traded increased from GHC677,184 to GHC3,872,396 over the same period.

The decreasing trend in the volume of equities as illustrated in the chart persisted until Friday when it began to make a sharp upward movement.

It is positive to note that the volume of equities has started to see improvements whilst the market capitalisation continues its downwards movements.

Though the top spot was flipped by the Lusaka Stock Exchange, the Ghana Stock Exchange led the league of African stock exchanges as the best performing market in the first half of 2021 in terms of the dollar. However, in local currency terms, the Ghana stock market was the best performing market on the African continent.

The Ghana Stock Exchange flipped because of a 1.78% depreciation of the cedi to the dollar, and the 27-percentage point gain in the Zambian currency to the dollar pushed the GSE to the second position.

The market was the number one on the African continent in performance in dollar terms. Indeed, the cedi’s relatively stable performance has compelled many investors to invest in the equity market.

 

Source: Abdul-Razak Mohammed (Real Estate Times Africa)

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