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Business News of Wednesday, 29 April 2020

Source: SAS Ghana

Stock Market starts week on the upside with Ecobank Ghana as sole gainer

Market Summary

An upward price movement in Ecobank Ghana (+7.14%) pushed the benchmark index up by 3.27 points (+0.15%) to close at 2,155.90 with a -4.49% year-to-date return while market capitalization increased by 0.06% to settle at GH¢55.77 billion.

Access Bank (-1.45%) and Standard Chartered (-0.23%) were among the decliners during the session, however, the GSE Financial Index was up 27.89 points (+1.47%) due to Ecobank Ghana (+7.14%) to close at 1,919.12 with a -4.98% year-to-date return.

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

MTN Ghana (-1.45%) summed up the decliners’ chart.

Trading activity surged as 235,228 shares valued at GH¢1,243,552 changed hands from 64,303 shares valued at GH¢52,600 at the previous session. Ecobank Ghana dominated trades by volume and value, accounting for 67.64% of the total volume traded and 95.95% of the total value traded.

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

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