Stock market remains downbeat as two banking bounters moderate

The benchmark index remained downbeat at the session, declining by 16.82 points (-0.88%) to close at 1,903.03 with a year-to-date return of -15.69% due to GCB Bank (-4.23%) and Standard Chartered (-5.88%) while the market capitalization decreased by 0.33% to settle at 52.98 billion.

Consequently, the GSE Financial Index tumbled 31.04 points (-1.76%) to close at 1,732.56 with a -14.21% year-to-date while the SAS Manufacturing Index remained unchanged at 2,658.25 with a year-to-date return of -24.06%.

Trading activity weakened as 149,895 shares valued at GH¢1,616,654 changed hands from 593,483 shares valued at GH¢1,981,648 in the previous session.

Standard Chartered dominated trades by volume and value, accounting for 60.71% of the total volume traded and 90.06% of the total value traded.

We expect activity levels to increase in the next session.