Strong showings in three financials advanced the benchmark index by 22.
09 points (+1.
20%) to close at 1,856.
56 with a -17.
75% year-to-date return while the market capitalization increased by 0.
44% to close at GH¢53.
Standard Chartered (+3.
32%), Ecobank Ghana (+2.
19%) and MTN Ghana (+1.
67%) pushed the GSE Financial Index up by 18.
92 points (+1.
14%) to close at 1,675.
63 with a -17.
03% year-to-date return while the SAS Manufacturing Index remained unchanged at 2,028.
66 with a year-to-date return of -41.
Trading activity strengthened as 371,664 shares valued at GH¢572,668 changed hands from 12,023 shares valued at GH¢6,634 in the previous session.
Fan Milk dominated trades by volume and value, accounting for 57.
12% of the total volume traded and 38.
56% of the total value traded.
We expect activity levels to increase as investors take advantage of bargain stocks.
Company in Focus Aluworks Limited (GSE: ALW) Aluworks Limited is an aluminium continuous casting and cold rolling mill located in Tema, Ghana.
The factory was built between 1982 and 1985 and was officially commissioned for production on 21st September 1985 with an installed capacity of 10,000 metric tons of various aluminium products at 70% utilisation.
The plant capacity was expanded to 20,000 metric tons per annum in 1992 and to 30,000 metric tons in 2002.
After an Initial Public Offer (IPO) in October 1996 at the price of GH¢0.
135 per share, the company was listed on the Ghana Stock Exchange on November 29, 1996.
Following two rights issues in 2009 and 2013, issued shares currently amount to 236,687,001 shares at a price of GH¢0.
11 per share as of 22nd September 2020.