The Ghana Stock Exchange (GSE) has extended daily trading hours with immediate effect in an effort to boost liquidity. The exchange will also publish two new indices.
The new hours are from 10am to 3pm marking a two-hour extension from the previous 10 am to 1 pm trading session, according to a statement.
The change will “afford non-resident investors in time zones different from ours greater opportunity to reach out to their local brokers,” the statement said.
“It is our expectations also that the extended trading hours will help improve liquidity in the marketplace,” it added.
It added that the exchange will also start publishing a GSE Composite Index and a GSE Financial Stocks Index, also with immediate effect.
The Composite Index was meant to eventually replace the All-share Index but will be published alongside it for now, an exchange official said.
The statement said the calculation of the GSE Composite Index will be based on the volume weighted average closing price of all listed stocks, while the GSE Financial Stocks Index will track banking and insurance company shares.
It added that both will have a base index value of 1,000.