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Business News of Tuesday, 28 July 2020

Source: SAS Ghana

GCB emerges as sole gainer to edge stock market higher

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.