Stock market trading dips in July, but market records 39% return for investors

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Stock market trading dips in July, but market records 39% return for investors

The Ghana Stock Exchange could not sustain its performance in the month of July 2021 in respect of total value and volume traded.

But the stock market returned about 39% in dollar term, sustaining its position as the best performing stock market in Africa so far this year.

The stock exchange outwitted most analysts’ projection for this year, with impressive gain for investors despite its dip in the month of July 2021.

It recorded a 40.15% and 33.11% fall respectively in volume and value traded, when compared to the same period last year.

However, the market gained an extra 2.79% return in July 2021 to increase its year-to-date return to about 39%.

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The top 5 most traded stocks during the month under review were MTN Ghana (81.24%), CAL Bank (9.23%) Guinness Ghana Breweries (1.83%), GCB Bank (1.75%) and Ecobank Transnational Incorporated (1.36%).

Stock market trading dips in July, but market records 39% return for investors

Importantly, MTN Ghana is the best performing stock on the market so far this year.

Also, the Ghana Fixed Income Market or the Bond Market closed the month of July 2021 with an impressive 19.46 billion volume trading, a 7.15% increase over the month of June.

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This exceptional performance by the Fixed Income Market, brings the first seven months cumulative volume traded to 127 billion, a 113.4% increase over the same period last year.

Source

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