Banking stocks pushed the GSE Composite Index up by 17.57 points (+0.76%) to close at 2,322.38 with a -9.71% year-to-date return while market capitalization increased by 0.31% to settle at GH¢57.99 billion.

Cal Bank Limited (+8.89%) and Ecobank Ghana Limited (+6.67%) led gains in the financial sector. The GSE Financial Index advanced by 33.32 points (+1.64%), to close at 2,033.50 with a -5.58% year-to-date return.

The manufacturing index closed flat at 3,928.04 with a -15.59% year-to-date return.

Trading activity strengthened with 143,032 shares valued at GH¢252,999 changing hands compared to 135,510 shares valued at GH¢150,716 yesterday. Ecobank Transnational Incorporated dominated trades by volume, accounting for 55.37% of total volume traded while Ecobank Ghana Limited accounted for 35.10% of total value traded.

We expect increased activity in financial stocks due to outstanding bids at the next session.

Company in Focus

Golden Star Resources (GSR)

GSR announced that it has intersected significant gold mineralization 200 metres down plunge to the south of the Inferred Mineral Resource at the Wassa Underground Gold Mine in Ghana, demonstrating the extension of the deposit. Drilling 85 km to the south at the Father Brown deposit has also shown that the Adoikrom gold bearing structure extends over 200 m down plunge of the last drill hole.

Gainers & Losers

Market Indices

Top Trades by Volume