Stocks are down 19.43% for the year which is only a few basis points away from the 20% drawdown which is the technical definition of a bear market. Even if we do not get into a bear market, stocks are likely headed for their worst performance since the 46.58% loss witnessed in 2009.
With elections only a few days away, investors are hoping for a peaceful process followed by some policy clarity going forward to inject some positivity into the market. Below are how stocks performed in November.
| Equity | November Performance | YTD |
| Ecobank Transnational Incorporation | 14% | 0% |
| Fan Milk Limited | 3% | -74% |
| NewGold Issuer Limited | 1% | 104% |
| Ghana Commercial Bank Limited | 0% | -24% |
| Standard Chartered Bank Ghana Ltd. | 0% | -18% |
| AngloGold Ashanti Limited | 0% | 0% |
| Access Bank Ghana | 0% | -12% |
| Agricultural Development Bank | 0% | 0% |
| AngloGold Ashanti Limited | 0% | 0% |
| Aluworks LTD | 0% | 10% |
| Clydestone (Ghana) Limited | 0% | 0% |
| Camelot Ghana Limited | 0% | 22% |
| Cocoa Processing Company | 0% | 50% |
| DASPHARMA | 0% | 0% |
| Digicut | 0% | 0% |
| Enterprise Group Limited | 0% | -15% |
| Ghana Oil Company Limited | 0% | -12% |
| Golden Star Resources Ltd. | 0% | 0% |
| HORDS LTD | 0% | 0% |
| Intravenous Infusions (IIL) | 0% | 0% |
| Mega African Capital Limited | 0% | 0% |
| Mechanical Lloyd Company Ltd | 0% | 0% |
| Meridian-Marshalls Holdings | 0% | 0% |
| MTN Ghana Ltd | 0% | -13% |
| Produce Buying Company Ltd. | 0% | 0% |
| Republic Bank | 0% | -27% |
| Samba Foods Ltd | 0% | 0% |
| Standard Chartered Bank Ghana Ltd – Preference Shares | 0% | 1% |
| Sam Wood Ltd. | 0% | 0% |
| Trust Bank Limited (THE GAMBIA) | 0% | -15% |
| Tullow Oil Plc | 0% | 0% |
| Total Petroleum Ghana Ltd | 0% | -22% |
| Unilever Ghana Limited | 0% | -44% |
| CAL Bank Limited | -1% | -22% |
| Societe Generale Ghana Limited | -2% | -11% |
| Benso Oil Palm Plantation Ltd | -5% | -30% |
| Guinness Ghana Breweries Ltd. | -10% | -47% |
| Ecobank Ghana Ltd | -12% | -38% |
| SIC Insurance Company Limited | -20% | 0% |