Stocks began the day with a positive performance before profit taking in telecom, consumer goods and oil stocks dragged the benchmark index by 29.89 points (-1.06%) to close with a 8.11% year-to-date return while market capitalization declined by 0.47% to settle at GH¢63.61 billion.
Financial stocks pushed 0.80% higher because of a GH¢0.31 gain in Ecobank Ghana Holdings (+4.63%) to close with a 0.70% year-to-date return. The top laggards in the banking sector were Standard Chartered Bank (-0.05%) and GCB Bank (-0.19%).
Losses in Unilever Ghana Limited (-0.06%) and Fan Milk Ghana Limited (-9.09%) moved the manufacturing index 3.52% lower to close with a -13.68% year-to-date return.
Activity levels surged with 1,271,958 shares valued at GH¢1,296,589 changing hands from 18,710 shares valued at GH¢12,637 in the previous session. MTN Ghana (-2.22%) dominated trades by both volume and value, accounting for 94.26% of total volume traded and 81.46% of total value traded.
We expect the market to decline at tomorrow’s session as stocks remain net offered.
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