Market begins week on a low note as four counters decline

The Ghana Stock Exchange (GSE) Composite Index closed 16.06 points (-0.71%) lower at 2,238.55 with a year-to-date return of -12.97% while market capitalization moderated by -0.29% at GH¢56.60 billion.

The GSE Financial Index was down 26.08 points (-1.30%) to close at 1,985.02 with a -7.83% year-to-date return due to price depreciation in Standard Chartered (-3.61%) and Republic Bank (-10.91%).

Losses in Guinness Ghana (-3.43%) and Starwin Products (-33.33%) tumbled the SAS Manufacturing Index by 16.06 points (-0.92%) to close at 3,481.52 with a -25.18% year-to-date return.

Trading activity waned as 51,057 shares valued at GH¢14,441 changed hands compared to 81,675 shares valued at GH¢198,475 at the previous session. SIC Insurance dominated trades by volume, accounting for 46.03% of total volume traded while MTN Ghana dominated by value, accounting for 31.99% of the total value traded.

We expect activity levels to increase at the next session.