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At the end of the trading session on Thursday, the Ghana Stock Exchange (GSE) had lost about 4.56 billion GH ¢ of capital since the beginning of the year due to the bear market performance.
The market closed on Thursday with a total capitalization of 56.95 billion GH ¢ and a cumulative decline in the composite index (GSE-CI) of -12.27%, after the opening of the market. exercise with a capitalization of 61.51 billion GH.
The GSE-Composite Index (GSE-CI) continues to decline, recording a 12.27% decline since the beginning of the year, including a -9.90% decline since the beginning of the index (GSE-FSI), on Thursday 12 September 2019.
Currently, the market seems to be in free fall, with no sign of recovery at the moment.
The GSE Composite Index (GSE-CI) measures weighted average price movements of all publicly traded equities, and the GSE Financial Index (GSE-FSI) – tracks average price changes. weighted shares of financial services.
The slowdown in the performance of the financial services sector was largely attributed to the decline in the GSE-FSI index.
However, the decline in the GSE-FSI index since the beginning of this year has not been as fast compared to that of the GSE-CI index. The data therefore indicates that other factors are also at work.
Ben Ackah, an badyst with UMB investment dealers, said the market should not return to a positive range for cumulative year-to-date figures.
A positive position could be registered, unless the market receives new spectacular information, he said.
"I do not expect a significant drop either, because a lot of information has already been incorporated into the market price. That's why there has been decline, "said Mr. Ackah.
At market close on Thursday, 21 stocks in the market had seen a drop in prices this year out of a total of 33 stocks. This includes seven actions in the financial services sector.
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