The market extended its bearish trend to today’s session on the back of downward price movement in four counters in the banking, insurance and petroleum marketing sectors. The GSE-CI declined by 13.48 points (-0.53%) to close at 2,529.92 with a -1.93% year-to-date return while market capitalization declined by 0.22% to settle at GH¢60.53 billion.
The manufacturing sector recorded no gains or losses at the session, closing at yesterday’s level of 4,657.11 with a -20.99% YTD return. Losses in Societe Generale (-1.35%), Enterprise Group Limited (-1.75%) and Republic Bank Ghana (-11.76%) dragged the financial index down by 0.63% to close with a -9.61% year-to-date return.
SIC Insurance (+6.25%) and Standard Chartered Bank (+0.42%) were the top performers at the session.
Transaction value declined with 65,993 shares valued at GH¢245,746.42 changing hands from 1,758,657 shares valued at GH¢1,492,960.89 in the previous session. Enterprise Group Limited (EGL) dominated trades by volume, accounting for 15.90% of total volume traded while Unilever Ghana Limited (UNIL) accounted for 57.88% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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