CAL Bank and MTN Ghana inch stock market lower

Market Summary

The benchmark index shed 12.45 points (-0.59%) due to two banking and telecom stocks to close at 2,106.95 with a -6.65% year-to-date return while market capitalization eased to GH¢55.45 billion.

CAL Bank (-1.20%) edged the GSE Financial Index down by 1.12 points (-0.06%) to close at 1,893.38 with a year-to-date return of -6.25%.

The SAS Manufacturing Index remained unchanged at 3,203.29 with a -7.99% year-to-date.

MTN Ghana (-1.52%) completed the losers’ chart at GH¢0.65.

Trading activity strengthened as 101,252 shares valued at GH¢51,675 changed hands from 30,630 shares valued at GH¢16,953 at the previous session.

CAL Bank dominated trades by volume and value, accounting for 43.36% of the total volume traded and 69% of the total value traded.

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

Preference Share Dividend Payment

Standard Chartered Bank Limited (GSE: SCB)

SCB has announced a dividend payment of GH¢0.0471 per preference share in respect of the dividend period 31st March, 2020 to 30th September 2020. The Dividend Rate (interest) is 18.1519%.