The Ghana Stock Exchange (GSE) could gain 12% return in 2023.
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)”.
It 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.
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.
Latest Stories
-
We didn’t sneak out 10 BVDs; they were auctioned as obsolete equipment – EC
3 hours -
King Charles to resume public duties after progress in cancer treatment
3 hours -
Arda Guler scores on first start in La Liga as Madrid beat Real Sociedad
4 hours -
Fatawu Issahaku’s Leicester City secures Premier League promotion after Leeds defeat
4 hours -
Anticipation builds as Junior Speller hosts nationwide auditions
4 hours -
Etse Sikanku: The driver’s mate conundrum
5 hours -
IMF Deputy Chief worried large chunk of Eurobonds is used to service debt
5 hours -
Otumfuo Osei Tutu II celebrates 25 years of peaceful rule on golden stool
5 hours -
We have enough funds to pay accruing benefits; we’ve never missed pension payments since 1991 – SSNIT
6 hours -
Let’s embrace shared vision and propel National Banking College – First Deputy Governor
6 hours -
Liverpool agree compensation deal with Feyenoord for Slot
6 hours -
Ejisu by-election: There’s no evidence of NPP engaging in vote-buying – Ahiagbah
6 hours -
Ejisu by-election: Independent ex-NPP MP’s campaign team warns party against dubious tactics
7 hours -
ZEN Petroleum supports Tse-Addo Future Leaders School
7 hours -
NPP must win back Adentan seat in 2024 polls – Obeng Fosu
8 hours