GSE records tumbled performance at last week’s trading activity

• Trading activity on the GSE tumbled last week by 158.98 points (-6.17%)

• This was due to MTN Ghana and Cal Bank's sluggish performance

• GSE’s market capitalization decreased by 2.81% to close at GH¢59.28 billion

Trading activity on the Ghana Stock Exchange’s Composite Index tumbled last week by 158.98 points (-6.17%).

This was a result of two trading stocks which closed the week’s activity at 2,416.36 with a year-to-date return of 24.45%.

Owing to this, the GSE’s market capitalization decreased by 2.81% to close at GH¢59.28 billion.

The GSE Financial Index however 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%.

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

Meanwhile, at the previous week’s trading, market 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 also dominated trades by volumes and value, accounting for 70.24% of total volumes traded and 45.43% of the total value traded.

Market analysts however are expecting trading activity to surge this week after last week’s dip.