Stocks closed on a negative note as the GSE-CI declined 47.24 points (-1.88%), its biggest decline this year to close at 2,510.38 with a -2.40% YTD return while market capitalisation declined by 0.78% to GH¢60.31 billion. Today’s performance was due to downward price movement in five counters in the banking, petroleum marketing and telecom sectors.
Cal Bank (-14.14%), Ecobank Ghana (-12.99%) and GCB Bank (-0.22%) dragged the GSE-FI down by 3.13% to close with a -2.85% YTD return. Manufacturing stocks recorded no changes for the second straight session, closing at 4,612.89 with a -0.87% YTD return.
Activity levels weakened with 112,700 shares valued at GH¢155,664.55 changing hands from 122,421 shares valued at GH¢34,872.36 recorded at the previous session. SIC Insurance (SIC) dominated trades by volume, accounting for 23.87% of total volume traded while Ecobank Ghana Holdings (EGH) accounted for 53.03% of total value traded.
We expect trading activity to increase ahead of 2018 full year earnings results.
September Earnings Season - Highlights
Gainers & Losers
Top Trades by Volume