Fan Milk slides Manufacturing Index while MTN drives Benchmark Index higher

Market Summary

The benchmark index gained 11.74 points (+0.53%) to close at 2,211.08 with a -2.04% year-to-date return on the back of gains in MTN Ghana (+1.49%) while the market capitalization increased by 0.22% to settle at GH¢56.70 billion.

Performances were mixed across sector indices. The GSE Financial Index remained unchanged at 2,000.63 with a year-to-date return of -0.94% while the SAS Manufacturing Index shed 1.78 points (-0.05%) to close at 3,265.92 with a -6.19% year-to-date return due to Fan Milk (-0.20%), the sole decliner at the session.

Trading activity weakened as 150,147 shares valued at GH¢188,972 changed hands compared with 1,825,134 shares valued at GH¢1,228,153 at the previous session. Enterprise Group dominated trades by volume and value, accounting for 69.60% of total volume traded and 90.70% of the total value traded.

We expect trading activity to pick up as investors await more earnings announcements.