Two counters moderate as stock market begins week on low note

The GSE Composite Index began the week 9.22 points (-0.47%) lower at 1,951. 41 with a year-to-date return of -13. 55% as a result of downward price movements in two counters.

The market capitalization decreased by 0. 18% to settle at 53.65 billion.

Republic Bank (-8.16%) edged the GSE Financial Index down by 6.06 points (-0.33%) to close at 1,830.73 with a -9.35% year-to-date return while the SAS Manufacturing Index shed 94.19 points (-3.35%) to close at 2,720.46 with a year-to-date return of -21.86% due to Guinness Ghana (-14.29%).

Trading activity weakened as 54,647 shares valued at GH¢30,687 changed hands from 4,067,407 shares valued at GH¢2,661,619 in the previous session.

MTN Ghana dominated trades by volume, accounting for 40.

26% of the total volume traded while CAL Bank dominated trades by value, accounting for 43.

68% of the total value traded.

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