Business News of Tuesday, 18 August 2020

Source: SAS Ghana

Financials stay flat while two consumer products lower manufacturing index

The GSE Financial Index recorded no gains or losses, closing at 1,725.21 The GSE Financial Index recorded no gains or losses, closing at 1,725.21

The benchmark index shed 10.05 points (-0.53%) as a result of downward price movements in two consumer products to close the week at 1,876.41 with a -16.87% year-to-date return while the market capitalization decreased by 0.20% to settle at GH¢52.71 billion.

The GSE Financial Index recorded no gains or losses, closing at 1,725.21 with a -14.58% year-to-date return while Fan Milk (-9.09%) and Unilever Ghana (-9.94%) dragged the SAS Manufacturing Index down by 159.71 points (-6.19%) to close at 2,422.03 with a year-to-date return of -30.43%.

Trading activity weakened as 9,780,555 shares valued at GH¢5,903,712 changed hands compared to 10,379,606 shares valued GH¢6,257,758 last week.

CAL Bank dominated trades by volume and value, accounting for 82.14% of the total volume traded and 81.68% of the total value traded.

We expect trading activity to pick up as investors take advantage of bargain stocks.