Financial Index inches up while Manufacturing Index slips

The benchmark index retreated by 13.79 points (-0.62%) to close at 2,206.62 with a -2.24% year-to-date return as a result of losses in two telecom and breweries counters while the market capitalization decreased by 0.25% to settle at GH¢56.66 billion.

The GSE Financial Index was upbeat due to Standard Chartered (+0.05%), inching up by 0.24 points (+0.01%) to close at 2,018.09 with a year-to-date return of -0.08%.

Guinness Ghana (-4.14%) dragged the SAS Manufacturing Index down by 32.97 points (-1.01%) to 3,232.95 with a -7.14% year-to-date return.

MTN Ghana (-1.47%) completed the losers’ chart, closing at GH¢0.67.

Trading activity weakened as 164,316 shares valued at GH¢114,948 changed hands compared with 587,810 shares valued at GH¢399,843 at the previous session. MTN Ghana dominated trades by volume and value for the second consecutive sessions, accounting for 96.52% of total volume traded and 92.71% of the total value traded.

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