Three counters lower stock market slightly amidst advancement in Fan Milk

Three counters lowered the benchmark index by 28.39 points (-1.28%), closing at 2,194.77 with a year-to-date return of 13.04% while the market capitalization moderated by 0.52% to settle at GH¢57.22 billion.

The GSE Financial Index declined marginally by 1.09 points (-0.06%) due to Cal Bank (-1.45%), closing at 1,848.44 with a 3.68% year-to-date return.

Unilever Ghana (-9.91%) was amongst the laggards, dragging the SAS Manufacturing Index slightly lower by 69.04 points to close at 1,550.20 with a year-to-date return of -8.88% despite a gain in Fan Milk (+0.93%).

MTN Ghana (-2.35%) summed up the decliners’ chart at GH¢0.83.

Trading activity weakened as 520,517 shares valued at GH¢365,862 changed hands from 3,138,724 shares valued at GH¢2,647,619 in the previous session.

Cal Bank dominated trades by volumes and value, accounting for 96.34% of the total volumes traded and 96.47% of the total value traded.

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