Business News of Thursday, 25 June 2020

Source: SAS Ghana

Stock market remains downbeat as two banking bounters moderate

Trading activity weakened as 149,895 shares valued at GHTrading activity weakened as 149,895 shares valued at GH

The benchmark index remained downbeat at the session, declining by 16.82 points (-0.88%) to close at 1,903.03 with a year-to-date return of -15.69% due to GCB Bank (-4.23%) and Standard Chartered (-5.88%) while the market capitalization decreased by 0.33% to settle at 52.98 billion.

Consequently, the GSE Financial Index tumbled 31.04 points (-1.76%) to close at 1,732.56 with a -14.21% year-to-date while the SAS Manufacturing Index remained unchanged at 2,658.25 with a year-to-date return of -24.06%.

Trading activity weakened as 149,895 shares valued at GH¢1,616,654 changed hands from 593,483 shares valued at GH¢1,981,648 in the previous session.

Standard Chartered dominated trades by volume and value, accounting for 60.71% of the total volume traded and 90.06% of the total value traded.

We expect activity levels to increase in the next session.