The market trended lower at today’s session, on the back of downward price movement in banking and petroleum marketing stocks. The GSE-CI declined by 5.32 points (-0.19%) to close with a 8.90% year-to-date return while market capitalization declined by 0.40% to settle at GH¢63.36 billion.
Ecobank Transnational Incorporated (-5.88%) and Cal Bank Limited (-0.96%) lost a pesewa each to close at GH¢0.16 and GH¢1.03, respectively. Consequently, the financial index declined by 8.77 points (-0.38%) to close with a 0.32% year-to-date return. Standard Chartered Bank (+0.05%) was the top performer today, recovering from a loss in the previous session.
The manufacturing index recorded no gains or losses for the session, closing with a -13.68% year-to-date return.
Trading activity declined with 24,145 shares valued at GH¢71,503.09 changing hands from 1,271,958 shares valued at GH¢1,296,589 in the previous session. MTN Ghana (MTNGH) dominated trades by volume, accounting for 49.74% of total volume traded while Standard Chartered Bank (SCB) accounted for 41.77% of total value traded.
We expect the market’s performance to decline at tomorrow’s session as stocks remain net offered.
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