Standard Chartered (+7.14%) pushed the GSE Composite Index upward by 12.83 points (+0.70%) to close at 1,852.62 with a -17.92% year-to-date return while the market capitalization increased by 0.25% to settle at GH¢53.12 billion.
The GSE Financial Index was upbeat too, due to Standard Chartered, closing the session 23.39 points (+1.39%) higher at 1,700.50 with a -15.80% year-to-date return.
The SAS Manufacturing Index was unchanged, closing at yesterday’s level of 1,934.21 with a year-to-date return of -44.44%.
Trading activity strengthened as 9,063,802 shares valued at GH¢5,444,116 changed hands from 530,842 shares valued at GH¢1,435,495 in the previous session. MTN Ghana dominated trades by volume and value, accounting for 99.75% of the total volume traded and 99.64% of the total value traded.
We expect activity levels to pick up while investors await third-quarter earnings results.
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.