Financial and Manufacturing indices begin week flat

Market Summary

The GSE Composite Index moderated by 11.85 points (-0.59%) due to MTN Ghana (-1.64%) to close at 2,000.12 with a -11.39% year-to-date return while the market capitalization decreased by 0.23% to settle at GH¢54.16 billion.

The GSE Financial Index no recorded gains or losses, closing at 1,840.80 with a year-to-date return of -8.86% while the SAS Manufacturing Index stayed flat for the fourth successive session at 2,989.90 with a -14.12% year-to-date return.

Trading activity surged as 157,769 shares valued at GH¢59,604 changed hands from 39,296 shares valued at GH¢26,013 in the previous session. Ecobank Transnational dominated trades by volume, accounting for 47.47% of the total volume traded while MTN Ghana dominated trades by value, accounting for 39.37% of the total value traded.

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