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Business News Fri, 5 Jun 2020

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Benchmark Index rebounds on the back of MTN Ghana

The benchmark index rebounded at today’s session on the back of gains in MTN Ghana (+1.82%) to close 5.11 points (+0.26%) higher at 1,946.14 with a year-to-date return of -13.78% while the market capitalization increased by 0.10% at 53.59 billion.

The GSE Financial Index remained unchanged at 1,843.10 with a -8.74% year-to-date return while Fan Milk (-14.79%) dragged the SAS Manufacturing Index downward by 88.97 points (-2.99%) to close at 2,980.13 with a year-to-date return of -16.96%.

Trading activity jumped as 7,302,297 shares valued at GH¢4,096,540 changed hands from 1,946 shares valued at GH¢3,588 in the previous session. MTN Ghana dominated trades by volume and value, accounting for 99.91% of the total volume traded and 99.74% of the total value traded.

We expect trading activity to pick up as investors take advantage of bargain stocks.

Source: SAS Ghana

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