Financial Index marks positive closure during last week's trading acitivty

Market Summary

The benchmark index shed 51.89 points (-2.41%) to close the week at 2,100.74 with a -6.93% year-to-date return while market capitalization decreased by 0.98% to settle at GH¢55.20 billion.

The performance of the sector indices were mixed.

Advancements in Ecobank Ghana (+7.14%) and CAL Bank (+5.13%) pushed the GSE Financial Index up by 15.19 points (+0.80%) to close at 1,906.41 with a -5.61% year-to-date return in spite of the downward price movements in Standard Chartered (-4.10%), Access Bank (-4.05%), and Enterprise Insurance (-0.59%).

The SAS Manufacturing Index halted its changeless streak after sixteen sessions, closing 10.66 points (-0.33%) lower at 3,203.29 with a year-to-date return of -7.99% due to Benso Oil (-7.02%).

MTN Ghana (-7.25%) and Total Petroleum (-0.71%) summed up the gainers’ chart this week.

Trading activity surged as 27,413,831 shares valued at GH¢19,716,661 changed hands compared to 419,977 shares valued at GH¢722,370 last week. MTN Ghana dominated trades by volume and value, accounting for 99.13% of total volume traded and 93.54% of the total value traded.

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