The market continued its bearish trend, extending losses to the third straight session on the back of losses in three counters in the banking and telecommunications sectors. The GSE-CI declined by 15.08 points (-0.57%) to close at 2,629.71 with a 1.94% year-to-date return while market capitalization rose 0.08% to settle at GH¢61.97 billion.
Societe Generale (-4.65%) and Republic Bank Ghana Holdings (-6.98%) dragged the financial index down by 0.25% to close at 2,201.88 with a -4.70% year-to-date return. Manufacturing stocks recorded no gains or losses at the session. Consequently, the SAS-MI closed with a -18.56% YTD Return.
Ecobank Transnational (+6.25%), Cal Bank Limited (+1.05%), Enterprise Group Limited (+0.40%) and Standard Chartered Bank (+0.10%) were the top gainers at the session.
Trading value was close to yesterday’s level with 2,033,902 shares valued at GH¢2,332,330 changing hands from 630,466 shares valued at GH¢2,302,329 in the previous session. Cal Bank Limited (CAL) dominated trades by both volume and value, accounting for 63.99% of total volume traded and 53.56% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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