Three banking and telecom counters fell on declining rates, lowering the GSE Composite Index by 30.11 points (-1.45%) to close at 2,043.11 with a -9.48% year-to-date return while the market capitalization decreased by 0.57% to settle at GH¢54.60 billion.
Standard Chartered (-2.78%) and CAL Bank (-1.28%) dragged the GSE Financial Index by 11.84% (-0.63%) to close at 1,865.08 with a year-to-date return of -7.65% in spite of a gain in Societe Generale (+1.56%).
The SAS Manufacturing Index was unchanged at 3,098.44 with a -11.00% year-to-date return.
Trading activity strengthened as 107,181 shares valued at GH¢111,953.86 changed hands from 71,500 shares valued at GH¢23,313 at the previous session. MTN Ghana dominated trades by volume and value, accounting for 79.68% of the total volume traded and 47.32% of the total value traded.
We expect trading activity to pick up as investors take advantage of bargain stocks.