Financials stay flat while two consumer products lower manufacturing index

The benchmark index shed 10.05 points (-0.53%) as a result of downward price movements in two consumer products to close the week at 1,876.41 with a -16.87% year-to-date return while the market capitalization decreased by 0.20% to settle at GH¢52.71 billion.

The GSE Financial Index recorded no gains or losses, closing at 1,725.21 with a -14.58% year-to-date return while Fan Milk (-9.09%) and Unilever Ghana (-9.94%) dragged the SAS Manufacturing Index down by 159.71 points (-6.19%) to close at 2,422.03 with a year-to-date return of -30.43%.

Trading activity weakened as 9,780,555 shares valued at GH¢5,903,712 changed hands compared to 10,379,606 shares valued GH¢6,257,758 last week.

CAL Bank dominated trades by volume and value, accounting for 82.14% of the total volume traded and 81.68% of the total value traded.

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