The benchmark index stayed flat at 1,856.56 with a -17.75% year-to-date return while the market capitalization stayed at GH¢53.16 billion.
The GSE Financial Index recorded no gains or losses, closing 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 -41.77% for the ninth successive session.
Trading activity weakened as 203,104 shares valued at GH¢273,964 changed hands from 6,649,360 shares valued at GH¢6,881,509 in the previous session. Fan Milk dominated trades by volume and value for three straight sessions, accounting for 55.38% of the total volume traded and 42.70% 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.