Market completes holiday-shortened week in bullish mode

The benchmark index advanced further by 31.72 points (+1.66%) on the back of three banking counters to close the holiday-shortened week at 1,941.59 with a -13.98% year-to-date return while the market capitalization increased by 0.61% to settle at GH¢54.38 billion.

Ecobank Ghana (9.92%), Standard Chartered (+5.23%) and GCB Bank (+1.25%) pushed the GSE Financial Index upward by 57.63 points (+3.34%) to close at 1,782.76 with a -11.73% year-to-date return.

The SAS Manufacturing Index recorded no gains or losses, closing at 1,701.33 with a year-to-date return of -51.13%.

Trading activity strengthened as 30,218,537 shares valued at GH¢13,598,638 changed hands from 13,241,564 shares valued at GH¢8,502,553 last week. GOIL Company dominated trades by volume, accounting for 56.87% of the total volume traded while MTN Ghana dominated trades by value, accounting for 61.06% of the total value traded.

We expect trading activity to surge.