The Ghana Stock Exchange (GSE) witnessed a significant drop in its benchmark index, with the GSE Composite Index (GSE-CI) falling 176.27 points to close at 6,041.63 points, bringing its year-to-date (YTD) return to 23.59% – – a decline from the high of +26% YTD returns.
Meanwhile, the Financial Stock Index (GSE-FSI) gained 0.81 points to settle at 3,060.11 points, reflecting a YTD return of 28.53%.
Despite the decline in the composite index, overall market capitalization increased by GHS 2,164.96 million, reaching GHS 134.83 billion – which is still below the previously high market capitalization of +GHS 136 billion.
Market Activity
Trading activity slowed, with the volume of shares traded plunging 75.63% to 929,077 shares.
The total market turnover stood at GHS 11,158,984.74.
Top Gainers and Losers
- Gainers: GLD and GGBL led the market’s gains, closing at GH¢464.00 and GH¢5.80, respectively.
- Losers: MTN Ghana (MTNGH) declined, closing at GH¢3.02.
Top Traded Equities
GCB Bank (GCB) led trading volumes, with 820,786 shares exchanging hands, amounting to GHS 5,786,541.30. Other heavily traded stocks included MTNGH, SIC, GLD, and GGBL in that order.
While the broader market recorded a dip, the resilience of the financial stocks signals sustained investor confidence in the sector.
Source: norvanreorts.com