The Ghana Stock Exchange (GSE) has started the 2018 year with impressive results. In just about two weeks into the New Year, figures from the stock market have started showing signs of promising returns for investors.
At the end of trading yesterday (16th January 2018), the GSE composite index inched up to 2,817.66 points. This reflects a year-to-date return of 9.22%. In the same period last year, the stock exchange recorded 2.57%.
So far, 14 out of the 39 listed companies have recorded some gains in the year. Prominent ones among them are GCB bank Limited (GCB), CAL bank Limited (CAL), Ecobank Ghana Limited (EGH), Enterprise Group Limited (EGL), Ecobank Transnational Incorporated (ETI), Ghana Oil Company Limited (GOIL) and Total Petroleum Ghana Limited (TOTAL).
Total Petroleum, for instance, has recorded a year-to-date return of 36.26% as of 16th January 2018.This is followed by GCB bank, which has so far recorded 34.46% in the same period.
Similarly, Ecobank Ghana Limited has posted a year-to-date return of 18.29%, followed by Societe Generale Ghana Limited, with 14.63%.
Other companies with positive results include Ghana Oil Company Limited (13.75%), Ecobank Transnational Incorporated (12.5%), CAL Bank Limited (11.11%) and Enterprise Group Limited (10.81%).
The rest are Standard Chartered Bank (GH) Ltd. (4.55%), Benso Oil Palm Plantation Limited (2.94%), Guinness Ghana Breweries Limited (1.94%), Agricultural Development Bank (1.37%), Fan Milk Limited (0.56%) and Unilever Ghana Limited (0.47%).
Meanwhile, Access Bank Ghana, HFC Bank (Ghana) Limited and Produce Buying Company Limited have recorded losses in the same period.
Access Bank and HFC Bank have lost 6.17% and 6.47% of their share prices respectively. Likewise, Produce Buying Company Limited has shed 16.67% of its value.