Stocks closed 8.05 points (0.28%) lower, on the back of downward price movement in two counters in the banking and petroleum marketing sectors. Today’s performance was largely driven by speculation as markets enter a bearish trend while fixed income rates climb higher, dragging the GSE-CI down to close with a 10.27% year-to-date return. Market capitalization declined by 0.12% to settle at GH¢64.31 billion.
The financial index shed 11.65 points (-0.28%) on the back of a loss in Access Bank Ghana (-11.76%) to close with a -0.03% year-to-date return. Cal Bank (+0.97%) and Ecobank Ghana Holdings (+0.15%) however gained at today’s session.
Manufacturing stocks recorded no losses or gains at today’s session, closing at yesterday’s level of 5,285.59 with a -10.33% year-to-date return.
Total Petroleum (-4.23%) was the sole laggard in the petroleum marketing sector.
Trading value surged with 700,944 shares valued at GH¢5,893,299.90 changing hands from 274,407 shares valued at GH¢374,991 in the previous session. Fan Milk Ghana (FML) dominated trades by both volume and value, accounting for 70.08% of total volume traded and 91.67% of total value traded.
We expect the market’s performance to decline tomorrow as offers outweigh bids.
Company Snapshot (9 Months 2018)
Gainers & Losers
Top Trades by Volume
Interbank Exchange Rates