Stock Market breadth positive while major financial indices advance

Market Summary

The benchmark index advanced by 8.48 points (+0.47%) on the back of Ecobank Transnational (+14.29%), Fan Milk (+1.90%) and Ecobank Ghana (+0.81%) to close at 1,821.72 with a -19.29% year-to-date return.

The market capitalization increased by 0.48% to close at GH¢52.12 billion.

The GSE Financial Index was up 14.95 points (+0.92%) to close at 1,623.20 with a year-to-date return of -19.63% while the SAS Manufacturing Index edged up by 3.56 points (+0.19%) to close at 1,834.69 with a -47.30% year-to-date return.

SIC Insurance (-11.11%) was the sole decliner at GH¢0.08.

Trading activity strengthened as 24,043,675 shares valued at GH¢18,654,837.76 changed hands from 1,014,394 shares valued at GH¢98,508.80 in the previous session.

MTN Ghana dominated trades by volume and value, accounting for 83.66% of the total volume traded and 65.77% of the total value traded.

We expect activity levels to pick up while investors await more third-quarter earnings results.