Prime News Ghana

GSE tumbles over MTN Ghana, Cal Bank sluggish performance

By PrimeNewsGhana
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The Ghana Stock Exchange (GSE) Composite Index tumbled by 158.98 points (-6.17%) due to two stocks to close the week at 2,416.36 with a year-to-date return of 24.45%.

This led to a decrease in market capitalisation by 2.81% to close at GH¢59.28 billion.

The GSE Financial Index advanced by 0.49% due to gains in GCB Bank of 5.05% to close at 1,898.59 with a year-to-date return of 6.50% despite downward price movement in CAL Bank of 2.44%.

MTN Ghana (-12.28%) completed the decliners’ chart in the week under review.

The previous week’s trading activity strengthened as 15,784,301 shares valued at GH¢25.18 million were traded compared to 6.25 million shares valued at GH¢7 million in the previous week. MTN Ghana dominated trades by volumes and value, accounting for 70.24% of total volumes traded and 45.43% of the total value traded.

Market experts are anticipating trading activity to surge this week after last week’s the dip.