In the month of August, we observed a concerted effort by certain financial stocks, such as Societe Generale, Standard Chartered, GCB Bank, and SIC, to counteract the prevailing negative returns that have cast a shadow over the equity sector this year. This collective endeavour resulted in a noteworthy reduction in losses for the GSE Financial Index for the year, narrowing it down from -16.44% at the end of July to a more optimistic -14.44%.
It’s worth noting that stocks, in general, have emerged as a shining beacon amidst the economic challenges of this year, delivering a commendable year-to-date return of 26.22%. To gain a comprehensive perspective on the stock market’s performance in August and throughout the year, take a glance at the table below.
| Equity | Share Price (GH¢) | August Returns | Full Year Returns |
| Societe Generale Ghana Limited | 1.2 | 64.38% | 20.00% |
| Total Petroleum Ghana Ltd | 9 | 32.35% | 125.00% |
| Standard Chartered Bank Ghana Ltd. | 16.65 | 23.33% | -17.41% |
| Benso Oil Palm Plantation Ltd | 16.94 | 21.00% | 121.44% |
| SIC Insurance Company Limited | 0.24 | 20.00% | -22.58% |
| Unilever Ghana Limited | 6.86 | 9.94% | 76.80% |
| Ghana Commercial Bank Limited | 3.5 | 6.06% | -11.17% |
| Fan Milk Limited | 1.38 | 4.55% | -54.00% |
| MTN Ghana Ltd | 1.48 | 3.50% | 68.18% |
| AngloGold Ashanti Limited | 0.41 | 0.00% | 0.00% |
| Agricultural Development Bank | 5.06 | 0.00% | 0.00% |
| AngloGold Ashanti Limited | 37 | 0.00% | 0.00% |
| Aluworks LTD | 0.1 | 0.00% | 0.00% |
| Asante Gold Corp | 8.87 | 0.00% | 0.00% |
| Clydestone (Ghana) Limited | 0.03 | 0.00% | 0.00% |
| Camelot Ghana Ltd | 0.1 | 0.00% | 0.00% |
| Cocoa Processing Company | 0.02 | 0.00% | 0.00% |
| DASPHARMA | 0.4 | 0.00% | 0.00% |
| Digicut | 0.09 | 0.00% | 0.00% |
| Enterprise Group Limited | 2.41 | 0.00% | -24.69% |
| Ecobank Transnational Incorporation | 0.15 | 0.00% | 0.00% |
| NewGold Issuer Limited | 218.9 | 0.00% | 0.51% |
| HORDS LTD | 0.1 | 0.00% | 0.00% |
| Intravenous Infusions (IIL) | 0.04 | 0.00% | 0.00% |
| Mega African Capital Limited | 5.38 | 0.00% | 0.00% |
| Meridian-Marshalls Holdings | 0.11 | 0.00% | 0.00% |
| Produce Buying Company Ltd. | 0.02 | 0.00% | 0.00% |
| Pesewa One PLC | 0.68 | 0.00% | 0.00% |
| Republic Bank | 0.54 | 0.00% | 0.00% |
| Samba Foods Ltd | 0.55 | 0.00% | 0.00% |
| Standard Chartered Bank Ghana Ltd – Preference Shares | 0.9 | 0.00% | 0.00% |
| Trust Bank Limited (THE GAMBIA) | 0.82 | 0.00% | 2.50% |
| Tullow Oil Plc | 11.92 | 0.00% | 0.00% |
| CAL Bank Limited | 0.61 | -4.69% | -6.15% |
| Ghana Oil Company Limited | 1.57 | -4.85% | -8.72% |
| Guinness Ghana Breweries Ltd. | 2.52 | -10.00% | 22.93% |
| Access Bank Ghana | 2.82 | -14.02% | -29.68% |
| Ecobank Ghana Ltd | 3.9 | -27.78% | -41.27% |
Best performing stocks on the Ghana Stock Exchange as at August 2023:
Total +125% Benso Oil Palm +121% Unilever +77% MTN +68% Guinness Ghana +23%
Worst performers: SIC -23% Enterprise -25% Access Bank -30% Ecobank -41% Fanmilk -54%
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