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Business News of Monday, 24 August 2020

Source: SAS Ghana

Trading on GSE rebounds due to CAL Bank

The benchmark index, up by 2.42 points (+0.13%) The benchmark index, up by 2.42 points (+0.13%)

Market Summary

The benchmark index, up by 2.42 points (+0.13%), rebounded on the back of CAL Bank (+6.67%) to close at 1,843.10 with a -18.34% year-to-date return while the market capitalization increased by 0.05% to close at GH¢52.36 billion.

Accordingly, the GSE Financial Index closed 4.45 points (+0.27%) to close at 1,682.50 with a -16.69% year-to-date return.

Meanwhile, the SAS Manufacturing Index was unchanged at 2,314.52 with a year-to-date return of -33.52%.

Trading activity weakened as 2,881,659 shares valued at GH¢1,683,949 changed hands from 4,056,253 shares valued at GH¢4,256,139 in the previous session.

MTN Ghana dominated trades by volume and value, accounting for 99.41% of the total volume traded and 98.67% of the total value traded.

We expect activity levels to increase as investors take advantage of bargain stocks.