GCB Bank leads trading activity on stock market

Market Summary

The benchmark index moderated by 3.26 points (-0.18%) to close the week at 1,842.85 with a -18.36% year-to-date return due to two banking counters while the market capitalization inched down by 0.18% to settle at GH¢53.17 billion.

Ecobank Ghana (-8.33%) and Societe Generale (-7.14%) edged the GSE Financial Index down by 27.24 points (-1.63%) to close at 1,640.05 with a -18.80% year-to-date return in spite of gains in GCB Bank (+4.05%) while the SAS Manufacturing Index recorded no gains or losses, closing at 1,836.46 with a year-to-date return of -47.25%.

MTN Ghana (+1.64%) summed up the gainers’ chart this week.

A total of 6,654,599 shares valued at GH¢24,752,700 changed hands from 10,686,783 shares valued GH¢8,090,248 last week.

GCB Bank dominated trades by volume and value, accounting for 85.74% of the total volume traded and 88.02% of the total value traded.

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