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 GH¢166.24 billion from GH¢166.67 billion 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, signs that investor confidence in the local market is still strong.
Trading volume eased, with 344,020 shares worth GH¢1.38 million exchanging hands, compared to 551,022 shares valued at GH¢1.88 million in the previous session.
Cal Bank PLC lost GH¢0.07 to close at GH¢0.65, while Clydestone (Ghana) PLC gained GH¢0.02 to end at GH¢0.26. Scancom PLC, operator of MTN Ghana, edged down by GH¢0.02 to close at GH¢4.23 after trading more than 130,000 shares valued at GH¢549,331.
NewGold ETF also fell sharply by GH¢26.05 to settle at GH¢433.23, following declines in global gold prices.
The slight retreat highlights a day of softer trading following weeks of strong market activity.
