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Business News of Wednesday, 24 June 2020

Source: SAS Ghana

Two financials inch stock market lower to begin week

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Price depreciation in two financials, Enterprise Group (-0.69%) and GCB Bank (-1.39%) inched the GSE Composite Index down by 1.44 points (-0.07%) to begin the week at 1,919.85 with a year-to-date return of -14.94% while the market capitalization decreased by 0.03% to settle at 53.16 billion.

Consequently, the GSE Financial Index declined marginally by 2.66 points (-0.15%) to close at 1,763.60 with a -12.68% year-to-date while the SAS Manufacturing Index recorded no gains or losses, closing at 2,658.25 with a year-to-date return of -24.06%.

A total of 593,483 shares valued at GH¢1,981,648 changed hands from 591,200 shares valued at GH¢1,819,239 in the previous session.

GCB Bank dominated trades by volume and value, accounting for 92.76% of the total volume traded and 98.62% of the total value traded.

We expect activity levels to increase in the next session.