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Business News of Thursday, 21 May 2020

Source: SAS Ghana

Trading activity strengthened as two firms dominated market by value

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The GSE Composite Index moderated by 4.01 points (-0.20%) as a result of declines in two counters, closing at 1,996.79 with a -11.54% year-to-date return while the market capitalization was slightly down 0.08% to settle at GH¢54.12 billion.

Standard Chartered (-0.29%) inched the GSE Financial Index down by 7.19 points (-0.39%) to close at 1,833.96 with a year-to-date return of -9.31%.

The SAS Manufacturing Index declined marginally by 1.78 points (-0.06%) to close at 2,989.90 with a -14.12% year-to-date return due to Fan Milk (-0.29%).

Trading activity strengthened as 35,910 shares valued at GH¢9,094 changed hands from 14,300 shares valued at GH¢14,200 at the previous session. Hords Limited dominated trades by volume, accounting for 54.30% of the total volume traded while Standard Chartered dominated trades by value, accounting for 39.72% of the total value traded.

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