The Ghana Stock Exchange which led the league of African stock exchanges as the best performing market in the first half of this year in dollar term, was beaten to the first position by the Lusaka Stock Exchange in the first nine months of this year.
The impressive run by the Zambian kwacha against the dollar was the key contributing factor to the Accra Bourse being pushed to the second position.
In local currency term, the Accra Bourse was the best performing market on the African continent.
But the 1.78% depreciation of the cedi to the dollar and the 27 percentage point’s gain in the Zambian currency to the dollar pushed the GSE to the second position.
Whilst the GSE recorded about 44.55% gain in dollar term for investors at the end of September 2021, the Lusaka Stock Exchange registered 58%.
The 44% return for investors was however better than the 36% achieved in the first half of this year.
At the end of third quarter 2021, the market capitalization stood at ¢64.2 billion.
Until July 2021, the market was the number one on the African continent in performance in dollar term. Indeed, the cedi’s relative stable performance have compelled many investors to invest in the equity market.
According to the trading results, 15 stocks on both the main and SME Market registered gains in their market value, whilst six stock recorded losses.
The best performing stock was Fanmilk, and was followed by Societe Generale and MTN Ghana. However, the worst performing stock was Cocoa Processing Company which is selling at GHp2 per share. On the continent, the worst performing market is the Nigerian Stock Exchange with an annual return of -7.60%.
|Zambia Ghana||LUSE ASI GSE-CI||58.98 44.55%|
|Cote d’Ivoire||BVRM CI||20.53%|
- Presec alumni to petition Primetime over “raw deal” during 2021 NSMQ final
- We are investigating alleged impersonation of Adwoa Safo in Parliament – Ablakwa
- Ghana detects Omicron variant – GHS Director
- Minority Caucus moves motion to overturn approval of 2022 budget
- Akuapem Poloo to serve 82 days in jail as court dismisses her appeal
- Don’t fall for the drama; NDC has cut a deal with NPP to pass 2022 budget – Ernesto Yeboah alleges
- Adwoa Safo trends on social media after claims of alleged impersonation
- Fuel prices go down marginally
- ‘Very soon, we’ll get to know whether Adwoa Safo was in the House or not’ – Muntaka Mubarak
- Speaker dragged to court for overseeing rejection of 2022 budget by NDC MPs
Economic Fighters League will contest 2024 elections – Ernesto Yeboah
District Directors of Health Services Group begins 28th annual conference at Ho
Today’s frontpages: Thursday, December 2, 2021
Government is proud of your support for agric policies – Minister tells farmers
Roche sets up Chemo Unit for breast cancer treatment at Ho Teaching Hospital
Covid-19: Tightening surveillance at airports better than red-listing countries – Immunologist on Omicron variant
Photos: AMA health officers caution mechanic for operating in inflammable environment
KATH Child Health Unit launches maiden child health research dissemination day
Covid-19: Sanctions for unvaccinated drivers a wrong approach – GPRTU
2 dead, others in critical condition after motorbike accident in Savannah Region
Digital health the surest way to improve healthcare delivery – PharmAccess’ Maxwell Antwi
Let’s disband witch camps – Prof Naana Opoku-Agyemang
Ketasco 1994 year group provides water tanks for alma mater
NSMQ 2021: Prempeh College wins AirtelTigo Highest Scorer cash prize of ¢10,000
Tour Operators’ Union of Ghana outdoors maiden newsletter