The market closed in the red for the second consecutive trading session as the benchmark index shed 14.37 points to settle at 2,594.04, due to sell-offs in market bellwethers in the banking sector. As a result, market capitalisation further declined by 0.56% to settle at GH¢61.57 billion, while the year-to-date return declined to 0.56%.
Access Bank Limited (-14.25%), Ecobank Transnational Incorporated (-5.56%) and Standard Chartered Bank (-0.05%) dragged the financial index down by 27.50 points (-1.27%) to close at 2,157.22 with a -6.64% year-to-date return.
Manufacturing stocks recorded no gains or losses for the ninth consecutive session, closing with a -18.57% YTD Return.
Activity levels strengthened with 189,492 shares valued at GH¢181,835.40 changing hands from 33,613 shares valued at GH¢100,338.91 in the previous session. MTN Ghana (MTNGH) dominated trades by both volume and value, accounting for 91.46% of total volume traded and 75.29% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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