Two financials drive stock market upward

The benchmark index advanced by 8.13 points (+0.44%) to close at 1,850.96 with a -18.00% year-to-date return on the back of two banking counters while the market capitalization increased by 0.47% close at GH¢53.32 billion.

The GSE Financial Index bolstered by 14.83 points (+0.89%) to close at 1,676.14 with a -17.01% year-to-date return due to Ecobank Transnational (+16.00%) and Standard Chartered (+0.67%).

The SAS Manufacturing Index remained unchanged at 1,934.21 with a year-to-date return of -44.44%.

Trading activity strengthened as 1,694,367 shares valued at GH¢2,131,370 changed hands from 1,177,900 shares valued at GH¢748,453 in the previous session.

MTN Ghana dominated trades by volume, accounting for 59.02% of the total volume traded while Ecobank Ghana dominated trades by value, accounting for 51.22% of the total value traded.

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