The Ghana Stock Exchange is set to repeat its first half-year impressive performance of being the best performing stock exchange in the sub region at the end of the year 2021.
According to the November report released by the Ghana Stock Exchange, the Accra bourse could be closing the year as the best performing equity market in Africa this year as a result of the high Year-To-Date return recorded in November.
The Ghana Stock Exchange posted a Year-To-Date return of about 44 percent for investors.
The November 2021 Monthly Performance Report at the same time, revealed that the bond or debt market continued its outstanding performance with barely two weeks to end the year, pinpointing the fact that it is also on its way to end the year on high footing.
Again, the report disclosed that investor sentiments continue to be the main driver of the market and its sustenance.
“Investor sentiment continued to sustain the growth of the market as foreign investors will be smiling home with a return of about 40 percent in dollar term by the end of the year.”GSE Monthly Report
Major Drivers of GSE
According to the report, the major gainers in the month of November 2021, were Benso Oil Palm Plantation Limited (BOPP), CalBank, Ecobank Transnational Incorporated (ETI), while GOIL and Total Petroleum Ghana managed to lift the petroleum and gas sector. Nonetheless, MTN Ghana was conspicuously missing as the month of November was not particularly kind to the telecommunication giant.
Benso Oil Palm Plantation Limited managed to gain 33 percent in the month of November. This was followed by CalBank with 14.47 percent. Ecobank Transnational Incorporated also secured 12.50 percent gain in its share price in the month under review. Total Petroleum and GOIL pulled up 9.36 percent and 7.06 percent gains respectively. These stocks have witnessed immense investor interest in recent times.
In the intervening time, the report notes that total value of shares traded during the month of November stood at 44.4 million. This represents a growth of 29 percent over the previous month of October.
For the bond market, it closed the month of November 2021 with a total of 19.70 billion volume traded. This represents an increase of 12.19 percent over the previous month.
Total value of bonds traded was however estimated at a little above 20 billion.
In the rest of Africa, the Lusaka Stock Exchange of Zambia came with Year to Date return of 43.77 percent with the Ivorian BVRM sealing the third spot in the sub region with a Year to Date return of 24.58 percent. The above listed bourse are best performing stock market in Africa.
It can be recalled that the Ghana Stock Exchange (GSE) emerged as the best performing stock market on the African continent in the first half of the year.
After a poor performance in 2020, the GSE recorded a staggering 36.13% in dollar terms for investors in the first half of 2021.
The GSE also recorded a 36.16% return in cedi term for investors. This was far above its peers on the continent.