New Calculation Of Closing Price Of Listed Equities
The Ghana Stock Exchange (GSE) has introduced a new method of calculating closing prices of equities on the market, with effect from January 4, 2011. Closing prices of listed equities will be calculated using the volume weighted average price of each equity for every given trading day.
New Indices
GSE will also publish two new indices, namely the GSE Composite Index (GSE-CI) and the GSE Financial Stocks Index (GSE-FSI).
- GSE Composite Index (GSE-CI)
The calculation of the GSE Composite Index (GSE-CI) will be based on the volume weighted average closing price of all listed stocks. All ordinary shares listed on GSE are included in the GSE-CI at total market capitalization, with the exception of those of listed companies which have shares listed on other markets. The GSE-CI is a market capitalization weighted index, i.e. each constituent is given weight according to its market capitalization. The base date for the GSE-CI is December 31, 2010 and the base index value is 1000.
- GSE Financial Stocks Index (GSE-FSI)
This index will have its constituents as listed stocks from the financial sector including banking and insurance sector stocks. All ordinary shares of the financial stocks listed on GSE are included in the GSE-FSI at total market capitalization, except for those of stocks which are listed on other markets. The base date of GSE-FSI is also December 31, 2010 and the base index value is 1000
The new indices will be published on each trading day beginning January 4, 2011.
Issued in Accra, this 4th
day of January, 2010.