GSE completes week strongly as seven counters advance

Market Summary

The benchmark index advanced by 42.12 points (+1.83%) to close at 2,343.91 with a 20.72% year-to-date return while the market capitalization increased by 0.14% to close at GH¢58.53 billion.

Cal Bank (+21.74%), Societe Generale (+6.67%) and Enterprise Group (+1.37%) pushed the GSE Financial Index up by 5.74 points (+0.31%) to close at 1,840.99 with a 3.27% year-to-date return.

The SAS Manufacturing Index tumbled by 92.95 points (-6.48%) due to Unilever Ghana (-26.92%) to close at 1,341.05 with a year-to-date return of -21.18 despite gains in Guinness Ghana (+10.00%) and Fan Milk (+2.68%).

Meanwhile, Pesewa One (+3.33%) and MTN Ghana (+3.23%) completed the gainers’ chart this week.

This week’s trading activity waned as 3,644,834 shares valued at GH¢3,127,809 changed hands compared to 18,202,892 shares valued at GH¢14,087,555 last week.

Cal Bank dominated trades by volumes and value, accounting for 86.21% of total volumes traded and 79.89% of the total value traded.

We expect trading activity to pick up.