The Ghana Stock Exchange recorded a 14.9% return in cedi term for investors in the first half of 2023, as a result of improved market sentiments buoyed by the International Monetary Fund-support programme.

This was after a challenging economic period in 2022 resulting in a debt restructuring.

The GSE placed 4^th in Africa, out of 15 stock markets in the first half of 2023.

However, in dollar term, it registered a -10.0% return for investors.

According to data from the GSE, the non-banking stocks led the gains in the equity market.

Market capitalization also shot up to ¢70.24 billion as of June 30, 2023.

The Financial Stock Index, however, lost 17.57% in value in the first six months of 2023.  This was primarily due to the Domestic Debt Exchange Programme which impacted their balance sheets.

In cedi term, the Accra Bourse was the 4^th best-performing stock market in Africa, out of 15 stock markets in the first half of 2023.

However, it placed 11^th in the dollar term.

In all, six stocks recorded gains as compared to 10.

Meanwhile, the best-performing stock market in the first six months of this year was Benso Oil Palm Plantation (84.44%).

It was followed by TotalEnergies (70.00%), Unilever (60.82%) and MTN Ghana (50%).

The biggest losers were Fanmilk (-56%), Societe Generale (-41.0%) and Standard Chartered Bank (-35.96%).

Country	Year-To-Date Return (Cedi)	Year-To-Date Return (dollar)	Positions
Malawi MASI	76.27%	71.75%	1st
Nigeria NGSE	21.21%	-29.43%	2nd
Egypt  EGX	21.01%	-3.14%	3rd
Ghana GSE	15.28%	-10.10%	4th
Zambia LUSE	12.28%	17.75%	5th
Tunisia TUNINDEX	10.43%	10.82%	6th
Morocco MASI	6.74%	13.29%	7th
Botswana BSE	4.48%	-0.99%	8th
South Africa JSE	3.30%	-6.31%	9th
Ivory Coast BVRM	-0.75%	2.10%	10th
Mauritius SEMDEX	-2.73%	-6.08%	11th
Namibia NSX	-3.41	-12.60%	12th
Tanzania DSE	-3.80%	-4.66%	13th
Kenya ASI	-15.73%	-26.04%	14th
Uganda USE	-16.57%	-15.53%	15th