Business News of Wednesday, 1 July 2020

Source: SAS Ghana

Standard Chartered moderates stock market in spite of gains from CAL Bank

File photo File photo

The benchmark index moderated by 5.89 points (-0.31%) due to Standard Chartered (-3.13%) to close the session at 1,728.38 with a year-to-date return of -14.42% while the market capitalization decreased by 0.12% to settle at 52.61 billion.

CAL Bank (+1.33%) was positive at the session.

However, the GSE Financial Index was down 10.87 points (-0.62%) due to Standard Chartered to close at 1,728.38 with a -14.42% year-to-date return.

The SAS Manufacturing Index remained unchanged at 2,658.25 for the seventh straight session with a year-to-date return of -24.06%.

Trading activity weakened as 48,249 shares valued at GH¢65,407 changed hands from 13,369,383 shares valued at GH¢7,618,280 in the previous session.

CAL Bank dominated trades by volume and value, accounting for 67.51% of the total volume traded and 37.72% of the total value traded.

We expect activity levels to increase as investors take advantage of bargain stocks.