Trading activity surges while Manufacturing Index stays unchanged to close week

Market Summary

The benchmark index was down 28.66 points (-1.34%) to close the week at 2,106.58 with a -6.67% year-to-date return as a result of downward price movements in six counters. The market capitalization decreased by 0.56% to settle at GH¢55.26 billion.

Downward price movements in Ecobank Ghana (-10.77%), Societe Generale (-6.67%), CAL Bank (-4.88%) and Standard Chartered (-0.08%) dragged the GSE Financial Index down by 51.88 points (-2.76%) to close at 1,826.13 with a -9.48% year-to-date return.

The SAS Manufacturing Index recorded no gains or losses (W-o-W), closing the week at 3,203.29 with a year-to-date return.

Total Petroleum (-1.72%) and Tullow Oil (-0.08%) summed up the decliners’ chart.

Trading activity strengthened as 1,001,178 shares valued at GH¢1,502,107 changed hands compared to 319,371 shares valued at GH¢147,204 last week. CAL Bank dominated trades by volume, accounting for 82.38% of total volume traded while Ecobank Ghana dominated trades by value accounting for 54.91% of the total value traded.

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