The GSE remains afloat as blue chips keep posting attractive gains. The market was up 44.98 points to close the week at 835.32 points. As at March 27, the index has posted a year-to-date gain of 63.23% which compares favorably with the 1997 year gain of 42%. This clearly supports our opinion that the market will outperform the gains posted in the last three years.
The upturn of the index was due largely to the impressive performance of SSB (115%), HFC (112%), GGL, (100%) FML (108%), SPPC (90%), SCB (86%) and MOGL (76%) among others.
Amidst the favourable outlook of the economy and the contiuing growth in corporate earnings, a large number of fund managers are channeling more funds to the GSE. During the current quarter, foreign investors have poured in over US$10 million into the stock market, a remarkable improvement over the same period in the previous year.
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