Cal Bank moderates stock market while MTN Ghana dominates trading activity

Market Summary

The benchmark index moderated by 3.59 points (-0.16%) at 2,223.16 with a year-to-date return of 14.50% due to a downward price movement in Cal Bank (-8.00%). The market capitalization eased by 0.07% to settle at GH¢57.22 billion.

Accordingly, the GSE Financial Index declined marginally by 6.53 points (-0.35%) to close at 1,849.53 with a 3.75% year-to-date return while the SAS Manufacturing Index remained unchanged at 1,619.23 with a year-to-date return of -4.83%.

Trading activity weakened as 3,138,724 shares valued at GH¢2,647,619 changed hands from 6,327,714 shares valued at GH¢5,384,521 in the previous session.

MTN Ghana dominated trades by volumes and value, accounting for 95.58% of the total volumes traded and 96.31% of the total value traded.

We expect trading activity to increase as companies continue to release their earnings results.