Decliners outpace advancers while GCB leads trades to close week

Market Summary

The benchmark index tumbled 6.79 points (-0.31%), closing the week at 2,179.02 with a -3.46% year-to-date return after prices of seven counters declined. The market capitalization decreased by 0.13% to settle at GH¢56.19 billion.

Enterprise Group (+1.27%) and Societe Generale (+4.11%) emerged as gainers in the week. However, the GSE Financial Index declined by 9.07 points (-0.46%) at 21,952.16 with a -3.34% year-to-date return due to CAL Bank (-7.78%), Access Bank (-2.22%), GCB Bank (-0.63%) and Ecobank Ghana (-0.27%).

The SAS Manufacturing Index was unchanged at 3,231.17 with a year-to-date return of -7.63%.

Camelot Ghana (+10.00) completed the gainers’ chart at GH¢0.11 while Intravenous Infusions (-25.00%), New Gold (-3.96%) and GOIL Company (-2.86%) were amongst the decliners.

Trading activity weakened as 1,427,692 shares valued at GH¢767,272 changed hands compared to 2,120,779 shares valued at GH¢1,639,780 last week. MTN Ghana dominated trades by volume and value, accounting for 60.08% of total volume traded and 76.03% of the total value traded.

We expect trading activity to pick up as investors await earnings announcements.