GSE Closes Lower Despite Stronger Trading Volumes
The Ghana Stock Exchange closed lower on August 14, with the GSE Composite Index falling to 7,401.50 points, trimming its year-to-date gain to 51.41 per cent.
The GSE Financial Stock Index however, inched up to 3,415.51 points as market capitalisation of the bourse also declined to GH¢150.95 billion.
The drop was driven by a GH¢0.04 fall in MTN Ghana’s share price, which outweighed a similar-sized gain in GCB Bank.
Trading activity was markedly stronger, with volumes up 76.14 per cent to 1.04 million shares and turnover rising 65.28 per cent to GH¢3.64 million.
MTN Ghana dominated trading, accounting for more than 85 per cent of total value. Other active counters included SIC Insurance, CAL Bank, Republic Bank Ghana and Ecobank Transnational.
Despite the index dip, the rebound in investor participation suggested renewed short-term interest in the market.
