Stock market rebounds on the back of GCB

Business News of Saturday, 24 October 2020

Source: SAS Ghana

The benchmark index gained 3.80 points (+0.21%) on the back of GCB BankThe benchmark index gained 3.80 points (+0.21%) on the back of GCB Bank

Market Summary

The benchmark index gained 3.80 points (+0.21%) on the back of GCB Bank (+4.05%) to close today’s session at 1,842.85 with a -18.36% year-to-date return while the market capitalization was up 0.07% to close at GH¢53.73 billion.

Consequently, the GSE Financial Index closed 6.90 points (+0.42%) higher at 1,640.05 with a -18.80 % year-to-date return while the SAS Manufacturing Index remained unchanged, closing at 1,836.46 with a year-to-date return of -47.25%.

Trading activity surged as 4,670,182 shares valued at GH¢17,979,847 changed hands from 351,988 shares valued at GH¢1,803,701 in the previous session.

GCB Bank dominated trades by volume and value, accounting for 96.36% of the total volume traded and 96.36% of the total value traded.

We expect activity levels to pick up while investors await third-quarter earnings results.

De-Listing from The Ghana Stock Exchange

Following the end of the tender offer and successful settlement of all tendering shareholders, PZ Cussons Ghana Limited has announced the Company’s de-listing from the Ghana Stock Exchange (GSE), effective 19th October, 2020.

The offer results and de-listing have been approved by the GSE.

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