The local bourse continued to witness selling pressure at today’s session as investors remained cautious. Downward price movement in three counters in the banking and beverage sectors weighed on the exchange, dragging the GSE-CI down by 1.04% to settle at 2,543.40 with a -1.41% year-to-date return. Market capitalization declined by 1.09% to settle at GH¢60.66 billion.
Losses in Standard Chartered Bank (-4.05%) and Ecobank Transnational Incorporated (-11.76%) dragged the financial index down by 1.66% to close with a -9.04% year-to-date return. The manufacturing index also declined, on the back of price depreciation in Fan Milk Ghana Limited (-8.26%) to close with a -20.99% YTD Return.
Enterprise Group Limited (+1.78%) was the only gainer at the session.
Trading activity surged with 1,758,657 shares valued at GH¢1,492,960.89 changing hands from 148,100 shares valued at GH¢595,776.44 in the previous session. MTN Ghana (MTNGH) dominated trades by both volume and value, accounting for 95.84% of total volume traded and 88.07% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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