The first quarter (Q1) of 2021 saw the Ghana Stock Exchange top the African stock market with an annual return of 14.62% in dollar term for investors.

The performance of the market translated into an improved market capitalization of GH¢57.16 billion at the end of March this year.

The GSE impressive height stems from the cedi’s strong performance which compelled investors to shift their interest to the stock market.

Some nine companies appreciated as compared to five losers at the end of the first three months of this year.

The biggest gainer was MTN Ghana, appreciating in stock value by 32%. Followed by Societe Generale (17.19%) and Total Ghana (11.3%).

The biggest loser was Unilever Ghana Limited with year-to-date depreciation of 26.95%, but analysts believe its performance will see a swift turnaround by the first half of this year. It is presently selling at GH¢6.06 per share.

On the continent, the Johannesburg Stock Exchange (12.03%) was the 2nd best performing stock market, whilst the Namibia Stock Exchange placed third (8.12%).