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Business News of Tuesday, 29 September 2020

Source: SAS Ghana

SCB advances while ETI moderates to end holiday-shortened week

Market Summary The benchmark index moderated by 6.90 points (-0.37%) due to Ecobank Transnational to close the week at 1,834.47 with a -18.73% year-to-date return while the market capitalization decreased by 0.45% to settle at GH¢52.93 billion.

Ecobank Transnational (-14.29%) edged the GSE Financial Index lower by 12.58 points (-0.75%) to close at 1,656.71 with a -17.97% year-to-date return while the SAS Manufacturing Index recorded no gains or losses, closing at last week’s level of 2,028.66 with a year-to-date return of -41.73%.

Trading activity strengthened as 6,513,379 shares valued at GH¢3,971,021 changed hands from 1,705,402 shares valued GH¢2,967,637 last week.

MTN Ghana dominated trades by volume and value, accounting for 81.63% of the total volume traded and 80.34% of the total value traded.

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

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