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Business News of Tuesday, 28 July 2020

Source: SAS Ghana

GCB emerges as sole gainer to edge stock market higher

Trading activity strengthened as 32,772,544 shares valued at GHTrading activity strengthened as 32,772,544 shares valued at GH

Market Summary GCB Bank (+1.60%), the sole gainer this week, edged the benchmark index higher by 1.53 points (+0.08%) to close at 1,8762.77 with a -17.47% year-to-date return while the market capitalization increased by 0.03% to settle at GH¢52.57 billion.

Accordingly, the GSE Financial Index was up 2.83 points (+0.16%) to close at 1,725.21 with a -14.58% year-to-date return due to GCB Bank.

The SAS Manufacturing Index recorded no gains or losses, closing at last week’s level of 2,581.74 with a year-to-date return of -25.84%.

Trading activity strengthened as 32,772,544 shares valued at GH¢19,513,304 changed hands compared to 30,685,707 shares valued at GH¢17,522,571 last week.

MTN Ghana dominated trades by volume and value, accounting for 97.84% of the total volume traded and 92.30% of the total value traded.

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

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