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Business News of Tuesday, 1 December 2020

Source: SAS Ghana

Stock Market closes week lower while MTN leads trading activity

Trading activity weakened as 13,174,852 shares valued at GHTrading activity weakened as 13,174,852 shares valued at GH

Market Summary

The benchmark index closed the week 14.90 points (-0.82%) lower at 1,806.94 with a -19.95% year-to-date return while the market capitalization moderated by 0.29% to settle at GH¢52.96 billion.

CAL Bank (-1.43%) inched the GSE Financial Index downward by 0.39 points (-0.02%) to close at 1,622.81 with a -19.65% year-to-date return despite gains in GCB Bank (+0.26%) and Standard Chartered (+0.07%).

The SAS Manufacturing Index was down 47.10 points (-2.56%) to close at 1,789.37 with a year-to-date return of -47.25% due to Guinness Ghana (-10.00%).

MTN Ghana (-1.64%) summed up the decliners’ chart at GH¢0.60.

Trading activity weakened as 13,174,852 shares valued at GH¢8,802,796 changed hands from 15,140,231 shares valued GH¢11,421,834 last week.

MTN Ghana dominated trades by volume and value, accounting for 92.55% of the total volume traded and 84.26% of the total value traded.

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