Trading activity surges as Stock Market rebounds

Market Summary

The benchmark index shed 23.48 points (-1.28%) to close the week at 1,813.79 with a -19.64% year-to-date return due to two banking stocks while the market capitalization decreased by 0.46% to settle at GH¢52.87 billion.

Ecobank Ghana (-12.98%) and Societe Generale (-1.54%) dragged the GSE Financial Index down by 42.65 points (-2.58%) to close at 1,608.59 with a -20.35% year-to-date return while the SAS Manufacturing Index stayed flat, closing at 1,836.46 with a year-to-date return of -47.25%.

New Gold (+1.29%) was the sole gainer this week at GH¢109.90.

Trading activity strengthened as 8,876,776 shares valued at GH¢29,880,512 changed hands from 6,521,323 shares valued GH¢5,468,209 last week.

Ecobank Ghana dominated trades by volume and value, accounting for 46.59% of the total volume traded and 69.59% of the total value traded.

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