Stock Market closes week lower while MTN leads trading activity

Market Summary

The benchmark index closed the week 14.90 points (-0.82%) lower at 1,806.94 with a -19.95% year-to-date return while the market capitalization moderated by 0.29% to settle at GH¢52.96 billion.

CAL Bank (-1.43%) inched the GSE Financial Index downward by 0.39 points (-0.02%) to close at 1,622.81 with a -19.65% year-to-date return despite gains in GCB Bank (+0.26%) and Standard Chartered (+0.07%).

The SAS Manufacturing Index was down 47.10 points (-2.56%) to close at 1,789.37 with a year-to-date return of -47.25% due to Guinness Ghana (-10.00%).

MTN Ghana (-1.64%) summed up the decliners’ chart at GH¢0.60.

Trading activity weakened as 13,174,852 shares valued at GH¢8,802,796 changed hands from 15,140,231 shares valued GH¢11,421,834 last week.

MTN Ghana dominated trades by volume and value, accounting for 92.55% of the total volume traded and 84.26% of the total value traded.

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