Ecobank Transnational Incorporated, ETI pulls down the Ghana Stock Exchange

In the first day of trading this week, ETI, one of the most capitalized stocks on the stock market did not spare any major index but pulled them down. The major indices recorded negative return today, following a decline in ETI stock price. The GSE-Composite Index shed 7.05 points to close trading at 1,023.45. The financial stock index lost by -1.14%, to close at a year-low of 857.79 points.
The year-to-date return on financial stocks fell below the zero mark, at -0.61%, its lowest since the start of the year.
The Trade volume in the market declined by 53.91% compared to the previous session, as 1.16million shares were exchanged for GHS0.45 million, 45.84% lower than previous session. CAL Bank led the market with 86.59% and 70.51% of the trade volume and trade value respectively.
ETI recorded the only change, down by a pesewa to close at GHS0.10 but still had the potentials to pull down the major indexes.

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