"GSE Composite Index Slips as Market Capitalization Falls by GHS 112.67m"

GSE Composite Index Slips as Market Capitalization Falls by GHS 112.67m

The Ghana Stock Exchange (GSE) closed lower on Thursday, June 26, with the benchmark GSE Composite Index (GSE-CI) shedding 9.75 points to close at 6,245.66 points, moderating its Year-to-Date (YTD) return to 27.76%.

In contrast, the Financial Stock Index posted a marginal gain of 1.28 points to end the session at 3,371.40 points, extending its YTD return to an impressive 41.61%.

Market capitalization declined by GH¢112.67 million to settle at GHS 137.27 billion, reflecting weaker investor sentiment on the day.

Trading activity also slowed significantly, with total volume falling by 53.28% from the previous session. A total of 685,078 shares exchanged hands, amounting to a trade value of GHS 4,307,109.32.

CAL Bank and NewGold ETF (GLD) recorded price gains to close at GHS 0.55 and GHS 353.79 respectively. However, MTN Ghana (MTNGH) edged down by GH¢0.01 to close at GH¢2.93, weighing on the broader index performance.

MTNGH led the day’s activity by volume, trading 585,881 shares valued at GHS 1,717,033.16. CAL, Ecobank Transnational Inc. (ETI), SIC Insurance (SIC), and GLD rounded out the top five most traded stocks by volume.

The mixed performance of equities and the decline in market turnover underscore a cautious investor outlook, even as financial stocks continue to buoy index performance.