SIC Insurance and Republic Bank Ghana Holdings released 2018 end of year reports today. RBGH will hold its 28th Annual General Meeting at Accra City Hotel, Barnes Road, Accra at 11.00 am on Thursday 25th April 2019.
Trust Bank The Gambia (+15.00%), Ecobank Transnational Incorporated (+6.67%) and Cal Bank Limited (+0.97%) advanced this week, however losses in six counters in the banking, insurance, petroleum marketing and consumer goods sectors dragged the benchmark index down by 0.56% to close at 2,440.56 with a -5.12% year-to-date return. Market capitalization increased by 0.10% to settle at GH¢59.81 billion due to gains in ETI.
The financial index moderated by 20.80 points (-0.97%) this week to close at 2,125.87 with a -1.29% year-to-date return due to losses in Ecobank Ghana Holdings (-0.13%), Standard Chartered Bank (-4.76%) and Enterprise Group Limited (-6.25%).
The manufacturing index also moderated, down by 0.93% due to losses in Benso Oil Palm Plantation (-15.57%) and PZ Cussons (-2.44%) to close at 4,604.20 with a -1.05% year-to-date return.
Trading activity surged with 732,561 shares valued at GH¢1,097,148 changing hands from 746,215 shares valued at GH¢1,167,114 last week. MTN Ghana (MTNGH) dominated trades by volume, accounting for 45.23% of total volume traded while Standard Chartered Bank (SCB) accounted for 34.02% of value traded.
We expect activity levels to pick up as investors take advantage of bargain stocks.
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