GSE ends last week's trading on negative note as decliners outpace advancers

Market Summary

The benchmark index declined by 120.42 points (-4.47%) due to four counters to close at 2,575.34 with a 32.64% year-to-date return while the market capitalization was down 2.07% to close at GH¢60.95 billion.

SIC Insurance (-12.50%) and Cal Bank (-2.38%) inched the GSE Financial Index downward by 1.62 points (-0.09%) to close at 1,889.27 with a 5.97% year-to-date return despite gains in Enterprise Group (+2.01%).

Unilever Ghana (-9.72%) fell on declining rates. Consequently, the SAS Manufacturing Index tumbled by 33.49 points (-2.29%) to close at 1,431.10 with a -15.88% year-to-date return.

MTN Ghana (-8.06%) was amongst the laggards while NewGold (+1.54%) completed the gainers’ chart this week.

This week’s trading activity weakened as 6,251,368 shares valued at GH¢7,008,445 changed hands compared to 16,218,602 shares valued at GH¢20,866,275 last week.

MTN Ghana dominated trades by volumes and value, accounting for 64.82% of total volumes traded and 66.74% of the total value traded.

We expect trading activity to further increase.