Ghana Stock Exchange witnesses decline in benchmark index as trading remains subdued
The Ghana Stock Exchange experienced a day of mixed fortunes as the benchmark index, the GSE-Composite Index, concluded with a loss of 11.78 points, closing at 2,700.91 points. This decline represents a 10.52% year-to-date return. Simultaneously, the GSE Financial Stocks Index remained stagnant, ending the trading session at 1,694.29 points, with a year-to-date return of -17.46%.
Market sentiment was lackluster, with no advancers making headway during the trading day. Scancom PLC (MTNGH) saw its shares shed GH¢0.01, while NewGold (GLD) suffered a significant setback, losing GH¢0.80 to close at GH¢1.23 and GH¢221.60, respectively.
The market capitalization experienced a marginal dip, settling at GH¢67.90 billion, reflecting the cautious mood among investors.
Trading activity remained subdued, with a total volume of 21,324 shares changing hands, amounting to a value of GH¢1,011,889.14. This activity was observed across eleven equities, signaling a relatively quiet day on the exchange. Scancom PLC (MTNGH) dominated the volume chart, trading 7,675 shares valued at GH¢9,451.32, representing 0.93% of the total value traded. Following closely was Fan Milk PLC (FML), which traded 4,553 shares valued at GH¢6,009.96, accounting for 0.59% of the total value traded.
The Ghana Stock Exchange continues to navigate challenging market conditions, as investors carefully assess their investment strategies amidst ongoing uncertainties. Market participants will be closely monitoring upcoming developments for potential opportunities to capitalize on in the dynamic Ghanaian market.
