Just one month into the second half of the year, the year-to-date (YTD) return of the Ghana Stock Exchange has tremendously increased from its half-year figure of 16.31% to 31.99% as of 24th July 2017. To this effect, the percentage gained so far in the month of July alone is fairly equal to the overall percentage achieved by the bourse in the first half of the year. The graph below depicts the monthly trend of GSE YTD return for the year so far.
Increased market activity played a major factor for the remarkable performance in July. In particular, the sustained interest of investors in stocks such as Standard Chartered Bank contributed to the successive gains on the exchange. In the month of July alone (between 1st and 24th July), Standard Chartered Bank has gained an additional return of 55.43 %. This exceeds the return of 39.98% it recorded in the first six months of the year. Besides Standard Chartered Bank, other stocks that have made good returns in the 3-week period (between 1st and 24th July) are HFC Bank, Fan Milk Limited, Ghana Oil Company Ltd. (Goil) and Benso Oil Plantation Ltd. (BOPP). Between 1st and 24th July 2017, HFC Bank, Fan Milk Limited, Goil, and BOPP have recorded positive returns of 32.73%, 25.21%, 15.79% and 14.06% respectively.
Despite the continuous impressive performance of the exchange, a number of stocks such as Agricultural Development Bank, Golden Web Limited, Cocoa Processing Company Ltd., Mechanical Lloyd Company Limited and Clydestone (Ghana) Ltd. have still not recorded any positive return in the year so far.