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Business News of Wednesday, 29 April 2020

Source: SAS Ghana

Stock Market starts week on the upside with Ecobank Ghana as sole gainer

Trading activity surged as 235,228 shares valued at GH Trading activity surged as 235,228 shares valued at GH

Market Summary

An upward price movement in Ecobank Ghana (+7.14%) pushed the benchmark index up by 3.27 points (+0.15%) to close at 2,155.90 with a -4.49% year-to-date return while market capitalization increased by 0.06% to settle at GH¢55.77 billion.

Access Bank (-1.45%) and Standard Chartered (-0.23%) were among the decliners during the session, however, the GSE Financial Index was up 27.89 points (+1.47%) due to Ecobank Ghana (+7.14%) to close at 1,919.12 with a -4.98% year-to-date return.

The SAS Manufacturing Index remained unchanged at 3,203.29 with a -7.99% year-to-date.

MTN Ghana (-1.45%) summed up the decliners’ chart.

Trading activity surged as 235,228 shares valued at GH¢1,243,552 changed hands from 64,303 shares valued at GH¢52,600 at the previous session. Ecobank Ghana dominated trades by volume and value, accounting for 67.64% of the total volume traded and 95.95% of the total value traded.

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