CAL Bank moderates stock market and dominates trade

Market Summary

The benchmark index moderated by 1.2 points (-0.06%) due to CAL Bank (-2.44%) to begin the week at 2,134.04 with a -5.45% year-to-date return while market capitalization decreased by 0.02% to settle at GH¢ 55.55 billion.

Accordingly, the GSE Financial Index declined marginally by 2.23 points (-0.12%) to close at 1,877.78 with a year-to-date return of -7.02% while the SAS Manufacturing Index remained unchanged at 3,203.29 with a -7.99% year-to-date.

Trading activity weakened as 3,783 shares valued at GH¢ 3,728 changed hands from 111,200 shares valued at GH¢8,084 at the previous session. CAL Bank dominated trades by volume and value, accounting for 92.52% of the total volume traded and 75.11% of the total value traded.

We expect trading activity to pick up as investors take advantage of bargain stocks.