GSE Financial Index declines marginally

Market Summary

The benchmark index shed 60.78 points (-2.89%) following downward price movements in MTN Ghana (-7.58%) and Ecobank Ghana (-0.67%), closing the session at 2,041.96 with a -9.53% year-to-date return while the market capitalization decreased by 1.14% to settle at GH¢54.59 billion.

Consequently, the GSE Financial Index declined marginally by 2.87 points (-0.15%) to close at 1,873.88 with -7.22% year-to-date return while the SAS Manufacturing Index remained unchanged at 3,192.63 with a -8.30% year-to-date return.

Trading activity jumped as 9,902,537 shares valued at GH¢6,049,165 changed hands from 19,607 shares valued at GH¢28,513 at the previous session. MTN Ghana dominated trades by volume and value, accounting for 99.92% of the total volume traded and 99.79% of the total value traded.

We expect trading activity to pick up as investors take advantage of bargain stocks.