Shares of financial institutions attracted some investors, as the GSE Financial Stock Index surged 55.60 points from 2,048.72 points the previous week, reflecting the general performance of the stock market.

The market capitalization was GH¢59.76 billion, up 1.44% the previous week as prices continue to pick up gradually.

In comparison to the previous week where shares of 17 companies traded a total of 2.75 million shares, this week again saw shares of 17 companies trading, leading to a total of 1.27 million shares by close of week. Trading closed with four gainers and a loser.

CAL Bank was the only loser with a dip of 2.44% to close at   GH¢0.80 in a week that the bank inaugurated its new head office.

Liquidity dropped 54% from the previous week, MTNGH emerged as the most liquid stock for the week by trading 35% of market volume as the stock price appreciated by 2.86% to close at GH¢0.73. The Gambian bank, (TBL) traded 24% of volume to come behind MTNGH. The GSE Alternative market saw some activity on two trading days with 218,500 shares of IIL changing  hands at GH¢0.08 by close of week.

GCB Moves!!!

The bank which happens to be the biggest commercial bank in the country has shown some sterling performance in the first quarter of 2019. The blue chip company saw an 80% rise in profits, this came from a 36.27% increase in revenue and over 100% rise in net trading income. The bank further announced that it will expand its business in fixed income trading on both primary and secondary markets which is expected to push profits higher. As the biggest lender in the financial industry, it has plans to       transform its development finance unit into an investment bank known has GCB Securities, when in full swing, business operations is expected to rise to push revenue upward. In addition to its strong financial position, the bank declared a dividend of GH¢ 0.30 per share (subject to shareholders’ approval) for the 2018 financial year. Investor confidence is expected to move   upwards which could translate to a rise in the share price as the year-to-date gain of the stock is 9.13% (as at May 24, 2019).