Stock Market moves upward while Enterprise Group dominates trading activity

The benchmark index was up 7.08 points (+0.38%) to close at 1,872.77 with a year-to-date return of -17.03% while the market capitalization increased to 52.84 billion.

The GSE Financial Index gained 13.07 points (+0.77%) on the back of Ecobank Transnational (+16.67%), closing the session at 1,719.73 with a -14.85% year-to-date return in spite of a price depression in Enterprise Group (-0.70%).

The SAS Manufacturing Index remained unchanged at 2,599.53 with a year-to-date return of -25.33%.

Trading activity strengthened as 281,900 shares valued at GH¢325,695 changed hands from 85,632 shares valued at GH¢53,668 in the previous session.

Enterprise Group dominated trades by volume and value, accounting for 70.95% of the total volume traded and 87.20% of the total value traded.

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