The market extended losses to the second consecutive session, declining by 22.03 points (0.83%) as a result of losses in seven counters in the banking, insurance, telecommunications and beverage sectors. Consequently, the GSE-CI closed at 2,644.78 with a 2.52% year-to-date return while market capitalization declined by 0.36% to settle at GH¢61.92 billion.
The financial index fell 17.08 points (-0.77%) on account of price declines in Enterprise Group Limited (-0.40%), Cal Bank Limited (-1.04%), Societe Generale (-2.27%), SIC Insurance (-6.25%) and Republic Bank Ghana Holdings (-8.51%) to close at 2,207.31 with a -4.47% year-to-date return. The manufacturing index booked a loss for the second straight session, as Fan Milk Ghana (-0.90%) dropped, down 13.28 points (-0.28%) to close at 4,800.01 with an -18.56% year-to-date return.
Trading activity surged with 630,466 shares valued at GH¢2,302,328.62 changing hands from 13,457 shares valued at GH¢30,662.22 in the previous session. GCB Bank Limited (GCB) dominated trades by both volume and value, accounting for 43.08% of total volume traded and 56.62% of total value traded.
We expect the market’s performance to decline tomorrow as stocks remain net offered.
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