The benchmark index was up 14.86 points (+0.79%) to close this week at 1,887.65 with a -16.37% year-to-date return as three oil marketing, telecom and banking stocks gained while the market capitalization increased by 0.29% to settle at GH¢52.82 billion.
Societe Generale (+3.57%) was positive this week. However, downward price movements in CAL Bank (-5.33%) and Standard Chartered (-5.33%) inched the GSE Financial Index downward by 13.92 points (-0.80%) to close at 1,725.33 with a -14.57% year-to-date return.
The SAS Manufacturing Index moderated by 44.48 points (-1.68%) to close at 2,599.53 with a year-to-date return of -25.33% due to Fan Milk (-12.50%).
MTN Ghana (+3.57%) and GOIL Company (+2.5%) completed the gainers’ chart.
Trading activity weakened as 359,324 shares valued at GH¢218,705 changed hands compared to 36,078,708 shares valued at GH¢23,565,696 last week. Intravenous Infusions dominated trades by volume, accounting for 37.77% of total volume traded while MTN Ghana dominated trades by value, accounting for 26.46% of the total value traded.
We expect trading activity to pick up as investors take advantage of bargain stocks.