Stock market remains downbeat as financial and telecom stocks fall on declining rates

GCB Bank (-2.27%), the sole decliner at the session inched the benchmark index down by 2.55 points (-0.13%) to close the session at 1,958.06 with a year-to-date return of -13.25% while the market capitalization eased by 0.05% to settle at 53.72 billion.

Accordingly, the GSE Financial Index moderated by 4.71 points (-0.26%) to close at 1,821.13 with a -9.83% year-to-date return.

The SAS Manufacturing Index remained unchanged at 2,720.46 with a year-to-date return of -21.86%.

A total of 438,555 shares valued at GH¢1,004,968 changed hands from 1,202,849 shares valued at GH¢744,367 in the previous session.

MTN Ghana dominated trades by volume, accounting for 52.77% of the total volume traded while GCB Bank dominated trades by value, accounting 85.57% of the total value traded.

We expect activity levels to increase in the next session.