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Business News of Wednesday, 12 February 2020

Source: SAS Ghana

MTN Ghana tumbles and dominates trading activity

Market Summary

The benchmark index tumbled by 11.85 points (-0.54%), closing at 2,199.34 with a -2.56% year-to-date return while market capitalization declined by 0.22% to settle at GH¢56.58 billion.

Sector indices closed unchanged. The GSE Financial Index recorded no gains or losses, closing at 2,000.63 with a -0.94% year-to-date return while the SAS Manufacturing Index closed at 3267.70 with a –6.14% year-to-date return.

Scancom PLC (MTN Ghana) was the sole loser, moderating by GH¢0.01 (-1.47%) to close at GH¢0.67.

Trading activity strengthened as 1,825,134 shares valued at GH¢1,228,153 changed hands compared with 273,818 shares valued at GH¢475,142 at the previous session. MTN Ghana dominated trades by volume and value, accounting for 99.88% of total volume traded and 99.45% of the total value traded.

We expect trading activity to pick up as investors await more earnings announcements.