GSE Composite Index drops as market activity declines
The Ghana Stock Exchange (GSE) has witnessed a significant drop in its benchmark index, with the GSE Composite Index (GSE-CI) falling 176.27 points to close at 6,041.63 points.
This brings its year-to-date (YTD) return to 23.59% after a decline from the high of +26% YTD returns.
Meanwhile, the Financial Stock Index (GSE-FSI) gained 0.81 points to settle at 3,060.11 points, reflecting a YTD return of 28.53%.
Despite the decline in the composite index, overall market capitalisation increased by GH¢2,164.96 million, reaching GH¢134.83 billion.
This is still below the previously high market capitalisation of GH¢136 billion.
Market Activity
Trading activity slowed, with the volume of shares traded plunging 75.63% to 929,077 shares.
The total market turnover stood at GH¢ 11,158,984.74
Gainers: GLD and GGBL led the market’s gains, closing at GH¢464.00 and GH¢5.80, respectively.
Losers: MTN Ghana (MTNGH) declined, closing at GH¢3.02.
Top Traded Equities
GCB Bank (GCB) led trading volumes, with 820,786 shares exchanging hands, amounting to GH¢ 5,786,541.30. Other heavily traded stocks included MTNGH, SIC, GLD, and GGBL in that order.
While the broader market recorded a dip, the resilience of the financial stocks signals sustained investor confidence in the sector.
SP/EB