On the Ghana Stock Exchange (GSE,) Sector by sector average returns on the stock market further confirms GN Analysts FY2017 stock market performance forecast.
In earlier reports, GN Analysts posited that stock market returns in 2017 will be largely driven by financial stocks.
The Financial Stock Index [FSI] which measures the average returns on financial stocks leads the broader market return [i.e. Composite Index] in terms of YTD returns. The FSI currently pegged at 9.79% has outstripped the performance of the benchmark index in terms of market returns since the start of 2017.
Sectorial Analyses paints a more vivid picture on the YTD performance of stocks per sector on the Accra bourse. Banking and Finance currently records average YTD return of 11.92%. Agro-processing has so far recorded the highest average YTD returns of 18.75% owing largely to the 50% rise in CPC share price and 6.75% price appreciation in BOPP. Food & Beverage registers -3.55% average YTD returns as a direct result of dips in GGBL and FML share price since 2017 year open. Manufacturing also records -1.27% despite the 4.00% YTD returns on UNIL shares. A -9.09% dip in the share value of PZC contributes to the negative average YTD returns on manufacturing stocks. Petroleum sector also reports an average YTD return of 12.02%; as a result of the share price appreciations in both TOTAL and GOIL. The Pharmaceutical sector returns -8.33% on average while Trading & Distribution and Printing & Publishing stocks returns records no change in the average YTD returns[i.e. 0.00%]. Mining stocks returns -1.91% on average despite the relative stability in the prices of Gold and Crude Oil on the world market. The -7.63% YTD returns recorded on TLW shares is the main driver for the negative returns in the Mining sector.
Investors can refer to the above analyses for their choice on stocks selection. GN Analysts however anticipate that the Food & Beverage sector as well as the Distribution & Trading sector will return positive YTD gains to investors at the end of 2017.
Trading activity on the bourse ended with 2 gainers [GCB and FML] and 1 loser [TOTAL] yesterday. UTB topped the trading chart in terms of volume as 21,400 shares worth GHS 870.00 changed hands. Returns on the Composite and Financial Stock Index pegged at 7.15% and 9.79% respectively.
Trading activity on the Ghana Alternative Market (GAX) was hushed as no shares changed hands.
HORDS currently lead record capital gains on the GAX, appreciating by 25% from 2016 year open.
The Cedi LOST marginally to the British Pound but gained to the Euro. However the cedi recorded no change against the dollar yesterday.
The local currency exchanged at a mid-rate of GHS 4.3750 to the USD, GHS 5.4576 to the GBP and GHS 4.6479 to the EURO.
The GCFM Cedi index, a measure of the holistic performance of the Cedi on the inter-bank market now records a year-to-date depreciation of 4.49%.
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