Trading in DDEP bonds surged on Monday, November 9, driving a sharp increase in fixed income market activity as the Ghana Stock Exchange Composite Index posted a marginal gain.
The GSE Composite Index rose 0.07% to 14,010.02 points from 14,000.37 points recorded in the previous session. Its year to date return improved to 59.74%.
The GSE Financial Stock Index moved in the opposite direction, slipping 0.05% to 7,265.88 points. The index has nevertheless gained 56.35% since the beginning of the year.
Equity trading activity slows
Equity market activity weakened despite the rise in the broader market index.
A total of 1.43 million shares changed hands, down 51.34% from the 2.93 million shares traded in the previous session.
The value of shares traded also declined, falling 1.93% to GH¢6.19 million from GH¢6.32 million.
The figures show that Monday's modest gain in the Composite Index came on significantly lower trading volumes.
Fixed income turnover jumps 147%
The fixed income market recorded much stronger activity, with total turnover climbing 146.53% to GH¢2.94 billion from GH¢1.19 billion.
DDEP bonds dominated the session, with turnover jumping 264.68% to GH¢2.49 billion from GH¢682.01 million.
Trading in Government of Ghana notes and bonds also increased sharply to GH¢651,000 from GH¢65,400, representing an 895.41% rise.
Treasury bill turnover, however, fell 11.11% to GH¢447.36 million, while corporate bond transactions declined 77.22% to GH¢1.32 million.
New Government of Ghana notes and bonds recorded turnover of GH¢7,000 after no transactions were recorded in the previous session.
The November 9 session therefore ended with a small gain for the broader equity market but a substantial shift in activity towards DDEP bonds in the fixed income segment.
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