• The benchmark index lost 1.62% following downward price movement in eight counters in the banking, consumer goods and petroleum marketing sectors to close at 2,212.21 with a -1.99% year-to-date return. Market capitalization followed the market’s trend, down 0.66% to settle at GH¢56.71 billion.
• Performance was bearish across sector indices. Losses in GCB Bank Ltd (-1.77%), CAL Bank (-2.04%), Standard Chartered Bank (-3.33%), Republic Bank Ghana Ltd (-3.33%) and Access Bank Ghana Ltd (-10.00%) dragged the GSE-FI down by 1.95% to close at 2,002.52
with a -0.85% year-to-date return. Activity Levels Declined
• A total of 3,625,470 shares valued at GH¢2,703,767 changed hands this week compared with 42,030,468 shares valued at GH¢33,602,321.
• MTN Ghana accounted for 83.03% of trades. Outlook
• We expect a pick up in trading activity as due to better than expected FY2020 earnings results.
Unilever Ghana Limited (UNIL)
UNIL reported a 46.25% drop in revenue from GH¢632.15m in FY18 to GH¢339.75m in FY19.
This was due to challenges associated with trading conditions and prioritization of inventory reduction.