Stock Market advances to close week

Market Summary

The benchmark index was upbeat this week, advancing by 46.04 points (+2.19%) to close the week at 2,152.63 with a -4.63% year-to-date return while market capitalization increased by 0.89% to settle at GH¢55.74 billion.

Gains in Ecobank Ghana (+20.69%) bolstered the GSE Financial Index by 63.09 points (+3.45%) to close at 1,891.23 with a -6.36% year-to-date return in spite of the downward price movements in Standard Chartered (-0.69%) and Republic Bank (-1.72%).

Meanwhile, the SAS Manufacturing Index recorded no gains or losses (W-o-W), closing the week at 3,203.29 with a year-to-date return of -7.99%.

MTN Ghana (+1.47%) summed up the gainers’ chart at GH¢0.69.

Trading activity waned as 419,977 shares valued at GH¢722,370 changed hands compared to 1,001,178 shares valued at GH¢1,502,107 last week. MTN Ghana dominated trades by volume, accounting for 38.29% of total volume traded while Ecobank Ghana dominated trades by value accounting for 54.91% of the total value traded.

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