GCB drives financial index to mark positive closure

The benchmark index closed the week 11.53 points (-0.62%) lower at 1,8761.24 with a -17.54% year-to-date return while the market capitalization decreased by 0.54% to settle at GH¢52.55 billion.

GCB Bank (+10.00%) pushed the GSE Financial Index up by 2.65 points (+0.15%) to close at 1,722.38 with a -14.72% year-to-date return in spite of a decline in the price of Ecobank Transnational (-14.29%).

The SAS Manufacturing Index was down 17.79 points (-0.68%), closing at 2,581.74 with a year-to-date return of -25.84% due to Fan Milk (-5.71%).

MTN Ghana (-1.72%) summed up the decliners chart this week at GH¢0.56.

Trading activity strengthened as 30,685,707 shares valued at GH¢17,522,571 changed hands compared to 6,580,784 shares valued at GH¢3,950,671 last week.

MTN Ghana dominated trades by volume and value, accounting for 97.84% of the total volume traded and 97.40% of the total value traded.

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