• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, July 9, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

GSE Composite Index to End 2023 at About 2,740 Points- Databank Research

March 14, 2023
Stephen M.Cby Stephen M.C
in Securities/Markets
0
GSE Records Tepid Trading Session with Ghana Oil Company as Sole Gainer

Databank Research has predicted that the Ghana Stock Exchange Composite Index (GSE-CI) will end the full year, 2023 at 2,740 points.

According to Databank Research, the market will return to the positive trajectory after ending 2022 as the worst performing stock market in Africa.

“From the perspective of technical analysis of the stock market, we forecast the GSE-CI [GSE Composite Index] to close full-year 2023 at around 2,740 points, translating into an expected annual gain of 12.00% (±500bps).”

Databank Research

Databank research explained that most investors will favour stocks of high-quality companies with good fundamentals, defensive quality and reasonable pricing power. These stocks, it said, can provide investors with consistent dividends.

RelatedPosts

Databank Forecasts Prolonged Slump in T-Bill Demand Over Low Yield Concerns

GSE Bulls Charge Back: Energy, Telecom and Financial Stocks Lead Market Rebound

GSE Poised for Sustained Momentum in H2 2025 – Market Expert Projects Further Gains

Among these favourites are MTN Ghana and the Oil Marketing Companies. The research firm also expects agro processing firm, Benso Oil Palm Plantation (BOPP) to do well this year, continuing its good dividend payout history.

The stock market has since this year recorded about 1.46% return in cedi term for investors. However, in dollar term, the exchange has recorded a negative return. This is due to the year-to-date loss of the cedi to the dollar.

Notwithstanding the current prediction, there are some experts who think returns of the GSE Composite and GSE Financial Stock Index this year will follow last year’s patterns and are likely to decline further as a result of the economic challenges the country is facing.

Currently, the GSE Composite Index (GSE-CI) stands at 2,518.06 points, while the GSE Financial Stocks Index (GSE-FSI) also stands at 1,884.87 points.

Review of 2022 Performance

In what was a turbulent year across markets, the Ghana Stock Exchange (GSE) was spared a worse decline by the performance of some financial sector stocks in 2022.

While the GSE Composite Index (GSE-CI) which measures the broad market closed the year with annual returns of -12.38 percent, compared to 43.66 percent at the end of 2021, the GSE Financial Stock Index (GSE-FSI) – which tracks the performance of financial sector stocks – ended 2022 at -4.61 percent versus the 20.70 percent return recorded a year earlier.

This was on account of major price recoveries seen in banking and insurance stocks: including SIC Insurance Company Limited (SIC), Trust Bank Gambia Limited (TBL), Access Bank Ghana (ACCESS), Enterprise Group Limited (EGL) and Ecobank Transnational Incorporated (ETI).

The development was attributed partly to the 2021 full-year performance of the financial sector, as well as the historical undervaluation of stocks in the sector.

Overall, SIC had the highest year-to-date increase with a gain of 287.5 percent; ending the year at GH¢0.31 from GH¢0.08 at the turn of last year. This reflected the market’s reaction to a stellar 2021, when the insurer grew post-tax profit by 414.6 percent to GH¢60.3million from GH¢14.55million.

Other companies that saw growth in their share prices included TBL, ACCESS, Benso Oil Palm Plantation Limited (BOPP), EGL, Guinness Ghana Breweries Limited (GGBL) and ETI, with year-to-date gains of 135.29 percent, 27.30 percent, 15.04 percent, 14.7 percent, 13.89 percent and 7.14 percent, respectively.

It was not all rosy with financial stocks, as some banks saw their share prices decline sharply. Cal Bank (CAL) recorded a year-to-date slump of -25.29 percent, with GCB Bank (GCB) at -24.81 percent; and Societe General, Ecobank Ghana and Republic Bank followed suit with -16.67 percent, -12.63 percent and -10 percent respectively.

The manufacturing sector’s woes, propelled by supply chain constraints and the rising cost of inputs, continued as Unilever Ghana Limited (UNIL), Produce Buying Company Limited (PBC), Fan Milk Plc (FML) and Intravenous Infusion Limited (IIL) closed the year with the biggest losses of -34.13 percent, 33.33 percent, 25 percent and 20 percent respectively.

Despite being the most traded stock, market leader MTN endured a torrid time in the year as its share price tumbled from GH¢1.11 to GH¢0.88 at the end of December 2022, representing a year-to-date decline of 20.72 percent.

This was attributed, in part, to concerns about the tech giant’s profitability due to developments such as the E-levy. This resulted in a retreat by offshore investors, whose contribution to equity trades fell from 69 percent at beginning of the year to 62 percent.

READ ALSO: Ga People Will Feature Prominently In My Governments- Kyerematen To Ga Mantse

Tags: Benso Oil Palm PlantationDatabank ResearchGSE composite indexGSE financial stock indexMTN Ghana
Please login to join discussion
Previous Post

Ga People Will Feature Prominently In My Governments- Kyerematen To Ga Mantse

Next Post

MASLOC Announces Plans To Disburse Some Funds Towards Supporting ASSIs In Ghana

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

July 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

July 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

July 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

July 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

July 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

July 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Entertainment

Debby Reveals Professionalism Fuels Female Musicians

by Esther Korantemaa OffeiJuly 9, 2025
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Africa

Mass Jail Sentences Deepen Tunisia’s Political Crisis

by Lawrence AnkutseJuly 9, 2025
Mustapha Gbande, Party, President.
General News

Every NDC Member Is Better Off Today – Gbande

by Silas Kafui AssemJuly 9, 2025
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
Asia

Mass Casualty Incidents Besmirch Gaza’s Aid Struggle

by Comfort AmpomaaJuly 9, 2025
GoldBod CEO Champions Value Addition in Mining
Extractives/Energy

Ghana Poised to Reap Big from Soaring Gold Prices

by Prince AgyapongJuly 9, 2025
Hon. Haruna Iddrisu, Ghana's Minister for Education
General News

Ghana Moves to Overhaul Scholarship Regime with New Bill

by Evans Junior OwuJuly 9, 2025
Debby Reveals Professionalism Fuels Female Musicians
Mass Jail Sentences Deepen Tunisia’s Political Crisis
Mustapha Gbande, Party, President.
Deadly Rush Confirms Fears About Gaza Humanitarian Foundation
GoldBod CEO Champions Value Addition in Mining
Hon. Haruna Iddrisu, Ghana's Minister for Education
[/vc_row_inner]

Recent News

  • Debby Reveals Professionalism Fuels Female Musicians
  • Mass Jail Sentences Deepen Tunisia’s Political Crisis
  • Every NDC Member Is Better Off Today – Gbande
  • Mass Casualty Incidents Besmirch Gaza’s Aid Struggle
  • Ghana Poised to Reap Big from Soaring Gold Prices
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.