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CFAL Local Market 2023 Recap

03 January, 2024

The year 2023 began with forecasts of low global economic growth as efforts to fight inflation were expected to lead to a significant slowdown in global economic activity. However, locally, strong economic conditions, the continued rebound of the tourism industry and the normalization in consumer spending throughout the year contributed to the positive performance of BISX for 2023. The local stock exchange saw growth of 7.81%, increasing to 2,851.64 from 2,645.06 at the end of the previous year. Notably, the market rose +18.71% in 2022. Most local stocks were higher for the year, with companies reporting positive results and continuing dividend payments. There were also some reinstatements of suspended dividends and increases in dividends which were positively received by the market.