MTN Ghana dominates trading activity

The benchmark index shed 14.88 points (-0.79%) to close the week at 1,872.77 with a -17.03% year-to-date return while the market capitalization moderated by 0.03% to settle at GH¢52.84 billion.

Ecobank Transnational (+16.67%) was up this week.

However, downward price movements in CAL Bank (-8.45%), Standard Chartered (-3.23%), and Enterprise Group (-0.70%) edged the GSE Financial Index down by 5.60 points (-0.32%) to close at 1,719.73 with a -14.85% year-to-date return.

The SAS Manufacturing Index recorded no gains or losses, closing at last week’s level of 2,599.53 with a year-to-date return of -25.33%.

Intravenous Infusions (+3.33%) completed the gainers’ chart while MTN Ghana (-1.72%) summed up that of the decliners.

Trading activity strengthened as 6,580,784 shares valued at GH¢3,950,671 changed hands compared to 359,324 shares valued at GH¢218,705 last week.

MTN Ghana dominated trades by volume and value, accounting for 93.14% of the total volume traded and 83.44% of the total value traded.

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