Market Recovers as Financial Stocks Advance - BusinessGhana

Market Recovers as Financial Stocks Advance

2nd Mar 2019 | Source: SAS Ghana

Gains in Ecobank Ghana Holdings (+7.29%), Cal Bank Limited (+3.16%), Enterprise Group Limited (+0.46%) and GCB Bank Limited (+0.29%) pushed the financial index up by 1.70% to close at 2,105.95 with a 2.22% year-to-date return.

Due to gains in the financial sector, the benchmark index recovered by 18.30 points (+0.74%) to close at 2,479.04 with a -3.62% year-to-date return while market capitalization increased by 0.31% to close at GH¢60.00 billion.

Manufacturing stocks closed flat for the eighth straight session as investors continued to focus on financial stocks. Consequently, the SAS Manufacturing Index closed at 4,647.26 with a -0.13% YTD return.

Trading activity weakened, with 130,897 shares valued at GH¢364,315 changing hands from 1,478,490 shares valued at GH¢11,209,116 at the previous session. Cal Bank Limited (CAL) dominated trades by volume, accounting for 37.78% of total volume traded while Ecobank Ghana Holdings (EGH) accounted for 66.01% of total value traded. Activity was concentrated in financial stocks.

We expect trading activity to increase ahead of 2018 full year earnings results.

2018 Full Year Earnings Season - Highlights

Gainers & Losers

Market Indices

Top Trades by Volume

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