Finance
GSE gains 4% in January
The positive performance of the Ghana Stock Exchange in the last quarter of 2020 has continued into the first month of 2021, with the local bourse returning to investors a gain of 4.3 % in January 2021. This is the first gain recorded in January since 2018.
The years 2018 and 2019 saw the local bourse returning negative 0.5% and 12.25 % respectively.
The trend continued for the first 3 quarters of 2020 with investors getting a return of negative 17.8% on listed equities from January to September.
Read also: Panic buying pushes retail sales up by 30.3%
However, the last quarter of 2020 saw a reversal of fortunes as the consistent quarterly losses in the year was halted with the 4th quarter seeing the local bourse rebound by as much as 5.2 %, with many onlookers attributing the turn in fortune to the development of multiple vaccines which lessened the negative sentiments for equities and triggered a gradual shift from fixed-income investments back to the equities market.
Back in January 2018, the GSE returned to investors a gain of 19 % in January, while in 2019 and 2020 investors got -3.3 % and -2 % respectively.
In an interview with Citi Business News, the General Manager of UMB Stockbrokers Ben Ackah highlighted the ongoing recovery and urged investors to take advantage of the low pricing of stocks on the bourse.
When you look at the values of transactions traded especially in the last quarter of 2020, it suggests clearly that there has been an increase in investments in the market. This points to a recovery on the market. Currently, a lot of the stocks on the market are undervalued. There are opportunities to invest at very low prices for the benefit of the investors.”
Source: Citinewsroom
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