IIL, BOPP, FML, and GOIL are 2023’s top gainers on the Ghana Stock Exchange
The Ghana Stock Exchange (GSE) navigated a tumultuous 2023 marked by a contraction in trade volumes and values.
However, amidst this backdrop of retrenchment, select equities demonstrated commendable resilience, painting a nuanced picture of the year’s financial landscape.
Leading the pack of commendable performers for 2023 were Intravenous Infusions Plc (IIL), boasting a robust 25.00% gain, followed by Benso Oil Palm Plantation (BOPP) at 10.39%, Fan Milk (FML) at 7.62%, and GOIL rounding out the list with a 3.45% uptick.
These companies’ performance underscores pockets of vitality in an otherwise subdued equities environment.
Yet, macro indicators reveal a tale of two markets. While trade volumes plummeted by a stark 56.59%, culminating at 579,675,315, and the value saw a corresponding 50.11% descent to GHS 818,169,530.95, market capitalization emerged as a beacon of resilience.
Surging by an impressive 14.55%, it catapulted from GHS 64,507.32 million in December 2022 to a robust GHS 73,893.17 million by the close of 2023.
The Composite Index concluded the year on a high note with a 28.08% return, defiantly shrugging off the headwinds that buffeted the capital markets throughout the year.
Conversely, the Financial Stock Index failed to mirror this performance, registering a sobering year-to-date loss of 7.36%.
