Trading on the Ghana Stock Exchange slowed on Tuesday as market indices edged lower following recent gains, with both the GSE Composite and Financial Stocks indices posting declines amid reduced trading volume.
Trading on the Ghana Stock Exchange (GSE) slowed on Tuesday as market indices edged lower following recent gains, with both the GSE Composite and Financial Stocks indices posting declines.
The GSE Composite Index dropped by 27.64 points to close at 8,351.36, while the Financial Stocks Index slipped by 8.94 points to 4,104.87. The day’s performance pulled total market capitalization slightly down to one hundred sixty-six point two four billion cedis from one hundred sixty-six point six seven billion cedis on Monday.
Although the market weakened on the day, overall performance for the year remains impressive. The main index is up 70.84 percent since January, while financial stocks have gained 72.42 percent, indicating that investor confidence in the local market remains strong.
Trading volume eased, with 344,020 shares worth one point three eight million cedis exchanging hands, compared to 551,022 shares valued at one point eight eight million cedis in the previous session.
Cal Bank PLC lost seven pesewas to close at sixty-five pesewas, while Clydestone (Ghana) PLC gained two pesewas to end at twenty-six pesewas. Scancom PLC, operator of MTN Ghana, edged down by two pesewas to close at four cedis twenty-three pesewas after trading more than 130,000 shares valued at five hundred forty-nine thousand three hundred thirty-one cedis.
NewGold Exchange Traded Fund (ETF) also fell sharply by twenty-six cedis five pesewas to settle at four hundred thirty-three cedis twenty-three pesewas, following declines in global gold prices.
The slight retreat highlights a day of softer trading following weeks of strong market activity on the Ghana Stock Exchange.
Source: newsghana.com.gh
