Ecobank Ghana edges Financial Index upward while MTN Ghana moderates

Market Summary

The benchmark index moderated by 5.58 points (-0.30%) to close the week at 1,837.27 with a -18.60% year-to-date return due to MTN Ghana (-1.61%) while the market capitalization inched down by 0.29% to settle at GH¢53.12 billion.

Meanwhile, Ecobank Ghana (+3.64%) edged the GSE Financial Index up by 11.20 points (+0.68%) to close at 1,651.24 with a -18.24% year-to-date return while the SAS Manufacturing Index stayed flat, closing at 1,836.46 with a year-to-date return of -47.25%.

A total of 6,521,323 shares valued at GH¢5,468,209 changed hands from 6,654,599 shares valued GH¢24,752,700 last week.

MTN Ghana dominated trades by volume and value, accounting for 79.74% of the total volume traded and 58.01% of the total value traded.

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