The benchmark index advanced by 88.06 points (+3.98%) this week, closing at 2,301.35 with a 18.53% year-to-date return on the back of gains in three counters in the insurance, telecom and banking sectors. The market capitalization increased by 1.59% to GH¢58.08 billion.
Enterprise Group (+0.69%) and Standard Chartered (+0.06%) were gainers this week. However, Ecobank Ghana (-2.78%) dragged the GSE Financial Index down by 10.67 points (-0.58%) to settle at 1,835.25 with a 2.94% year-to-date return.
The SAS Manufacturing Index remained unchanged at 1,486.08 with a year-to-date return of -12.65%.
This week’s trading activity strengthened as 3,719,316 shares valued at GH¢3,603,136 changed hands compared to 1,483,787 shares valued at GH¢1,624,785 last week. MTN Ghana dominated trades by volume and value, accounting for 87.64% of total volume traded and 82.21% of the total value traded.
We expect trading activity to pick up as investors await earnings announcements.