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GSE composite index increased to 2691.19 points in April 2022

The stock market’s improved performance, on a year-on-year basis, was on the back of a rebound in investor confidence, underpinned by policy support

The Ghana Stock Exchange Composite Index (GSE-CI) increased to 2691.19 points in April 2022 from 2561.45 points recorded in the corresponding period of 2021.

This translates into a year-on-year gain of 5.07% in April 2022 compared to a gain of 21.93% in April 2021.

According to the May 2022 Money Policy Report of the Bank of Ghana (BoG), the GSE-Financial Stocks Index (GSE-FSI) closed at 2209.70 points, representing a gain of 17.72% compared to a loss of 1.54% over the same comparative period in 2021.

The stock market’s improved performance, on a year-on-year basis, was on the back of a rebound in investor confidence, underpinned by policy support, as well as the relaxation of pandemic-related restrictions, particularly in 2021.

The year-to-date performance, however, showed a loss in the index of 3.52%. The main sectors that contributed to the year-to-date decrease were the Agriculture and IT sectors.

The year-to-date loss is attributed to the imposition of capital gains tax on securities listed on the GSE, the relatively higher yields on fixed income securities, higher inflation expectations, exchange rate pressures, and portfolio reversals.

Total market capitalisation of the GSE at the end of April 2022 was GHC63.82 billion, representing a growth of 4.96% (GHC3.02 billion), compared with a growth 10.15% in April 2021.

The year-on-year improvement in market capitalization was largely on account of capital gains. Total market capitalization, however, declined by 2.50%, on a year-to-date basis, driven by declines in share prices.

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