Market Indices Trend
Top Trades by Volume
Top Trades by Value
Gainers & Loser
Speculation and higher fixed income interest rates dragged the benchmark index down by 90.32 points (-3.08%) W-o-W to close with a 10.00% year-to-date return. This week’s performance was driven by losses in twelve counters in the telecom, insurance, banking, petroleum marketing and manufacturing sectors. Market capitalization declined by 2.04% to settle at GH¢63.84 billion.
Financial stocks dropped by 122.12 points (-5.05%), erasing gains for the year to close with a -0.68% year-to-date return on the back of downward price movement in SIC Insurance (-6.67%), Standard Chartered Bank (-12.80%), Ecobank Ghana Holdings (-3.04%), Enterprise Group Limited (-1.68%), GCB Bank (-2.83%) and Ecobank Transnational Incorporated (-10.53%). The manufacturing index declined by 4.09% to close with a -10.64% year-to-date return.
Fan Milk (-2.44%) dominated trades, accounting for 42.84% of total volume traded and 83.96% of total value traded. Trading activity changed marginally with 1,148,569 shares valued at GH¢6,445,182 changing hands from 1,189,187 shares valued at GH¢6,867,688 in the previous session.
We expect financial stocks to continue to underperform on the back of the decline in third quarter earnings.