Stock Market moves into bullish territory

Market Summary

The GSE Composite Index advanced by 57.3 points (+2.73%) due to Ecobank Ghana (+11.11%) and MTN Ghana (+4.56%) to close at 2,154.44 with a -4.55% year-to-date return while market capitalization increased by 1.07% to settle at GH¢55.76 billion.

The GSE Financial Index, helped by an increase in the price of Ecobank Ghana (+11.11%) climbed 40.15 points (+2.17%) to close at 1,894.57 with a year-to-date return of -6.19% while the SAS Manufacturing Index remained unchanged at 3,203.29 with a -7.99% year-to-date.

Trading activity surged as 209,200 shares valued at GH¢245,810 changed hands from 29,400 shares valued at GH¢158,744 at the previous session. MTN Ghana dominated trades by volume and value, accounting for 92.26% of the total volume traded and 54.07% of the total value traded.

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