GSE Composite Index falls 2.37% amid bearish sentiment

The Ghana Stock Exchange Composite Index (GSE-CI) recorded a loss of 145.59 points over the trading week, declining by 2.37% to close at 6,004.72 points, down from the previous week’s 6,150.31 points.

Last week’s performance, although negative, reflects a moderation in the market’s bearish run compared to the 3.20% loss recorded the week prior.

Contrary to the broader market trend, financial stocks recorded gains, with the GSE Financial Stock Index (GSE-FSI) rising by 0.86% to close at 3,244.82 points.

The financial index now boasts a Year-to-Date (YTD) return of 36.29%, underpinned by renewed investor interest in banking and insurance counters.

Market capitalisation of the bourse declined in tandem with the broader index, closing the week at GH¢134.13 billion.

Despite the drop in index value, trading activity on the bourse surged, with share volumes traded seeing a sharp increase by 520.32% and market turnover climbing by 204.32% over the week.

GLD led the week’s gainers, closing at GH¢363.67, while MTN Ghana (MTNGH) posted the largest loss, shedding value to close at GH¢2.81.

MTNGH also dominated trade activity, topping the chart with 9,977,611 shares traded at a total value of GH¢28.02 million.

Standard Chartered Bank (SCB) rounded off the top five traded equities, recording 76,879 shares traded valued at GH¢2.02 million.

SP/VPO