Bears dominated proceedings on the second day of trading in the Ghana Stock Exchange as the equity market continues to face challenges, with Tuesday’s trading session also ending in the red.
The Composite Index (GSE-CI) faced a modest setback in its performance with a decrease of 12.17 (0.39%) points attributed to the 0.65% drop in MTNGH share price. As a result, the GSE-CI settled at 3,103.08 points with a year-to-date return of 26.97%.
On the other hand, the Financial Stocks Index (GSE-FSI) exhibited steadiness, as the share prices of listed financial stocks remained unchanged, resulting in the index maintaining its position at 1,723.78 points, underlining a YTD loss of 16.02%.
Trading Activity
Trading activity on the day yielded no gainers, while Scancom PLC. (MTNGH) grappled with a GH¢0.01 decline, echoing the preceding day’s trajectory and concluding the session at GH¢1.53.
Market activity transpired across eighteen (18) equities, witnessing a turnover of 39,512 shares, equivalent to a cumulative valuation of GH¢65,927.18. Evidently, Scancom Plc. (MTNGH) continued to wield dominance over the volume chart for the fifth successive trading day.
The equity accounted for a remarkable 54.81% of the total value traded, engaging in transactions encompassing 23,524 shares valued at GH¢36,096.96.
Meanwhile, Ecobank Transnational Inc. (ETI) captured the second slot, trading 6,628 shares at a value of GH¢994.20. On a divergent note, Benso Oil Palm Plantation (BOPP) experienced relatively subdued trading activity among the top-ranking equities, contributing a transactional value of GH¢18,452.00.
Consequently, the total market capitalization experienced a diminution of GH¢132.36 million, ultimately settling at a closure of GH¢73.45 billion.
