Cal Bank moderates stock market despite StanChart gains

Market Summary

The GSE Composite Index moderated by 2.27 points (-0.10%) of 2,211.02 with a year-to-date return of 13.88% while market capitalization remained at GH¢57.13 billion.

The GSE Financial Index was down 4.12 points (-0.22%) to close at 1,841.80 with a year-to-date return of 3.31% due to CAL Bank (-6.25%) despite a gain in Standard Chartered (-0.06%) while the SAS Manufacturing Index was unchanged at 1,486.08 with a year-to-date return of -12.65%.

Trading activity strengthened as 218,752 shares valued at GH¢249,624 changed hands from 52,359 shares valued at GH¢40,768 in the previous session.

Cal Bank dominated trades by volumes, accounting for 51.47% of the total volumes traded while Standard Chartered dominated trades by value, accounting for 40.80% of the total value traded.

We anticipate activity levels to increase.