The market closed at a new year low as the benchmark index shed 18.24 points to settle at 2,575.79, due to downward price movement in eight counters in the banking, petroleum marketing, telecommunication and insurance sectors. Market capitalisation further declined by 0.30% to settle at GH¢61.39 billion, while the year-to-date return declined to -0.15%.
The financial index fell 11.28 points (-0.53%) to close at a new year low of 2,145.94 with a -7.13% year-to-date return. The drop in the financial index was as a result of downward price movement in GCB Bank Limited (--0.21%), Cal Bank Limited (-1.05%), Societe Generale (-1.33%), Enterprise Group Limited (-10.00%) and Standard Chartered Bank (-0.10%).
Manufacturing stocks recorded no gains or losses for the third consecutive session, closing with a -18.57% YTD Return.
Trading activity surged with 876,220 shares valued at GH¢1,984,915.95 changing hands from 189,492 shares valued at GH¢181,835.40 in the previous session. Cal Bank Limited (CAL) dominated trades by volume, accounting for 73.84% of total volume traded while GCB Bank (GCB) accounted for 32.74% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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