The Ghana Stock Exchange has ended the first quarter of 2021 as the best performing stock market in Africa with an annual return of 14.62% in dollar term for investors.
The impressive performance of the market has reflected in an improved market capitalization of GH¢57.16 billion at the end of March, 2021.
The Cedi’s strong performance has compelled investors to shift their interest to the stock market because investing in it accrues more returns than that of the dollar.
Nine companies appreciated in value as compared to the five lose at the end of the first three months of this year.
MTN Ghana was the biggest gainer, appreciating stock value by 32%, followed by Soceite Generale (17.19%) and Total Ghana (11.3%).
The biggest loser was Unilever Ghana Limited with year-to-date depreciation of 26.95%, but analysts believe its performance will see a swift turnaround by the first half of the year. It is presently selling at GH¢6.06 per share.
On the continent, the Johannesburg Stock Exchange (12.03%) was the 2nd best performing stock market, while the Namibia Stock Exchange placed third (8.12%).
Indices Change (Year-To-Date)
GSE Composite Index 13.99%
GSE Finacial Index 3.54%