Ghana Stock Exchange In Limbo As Market Losses GHC4.7bn And Major Broker Opts Out.

One of the biggest brokers on the Ghana Stock Exchange, Cal Brokers Ltd has announced its decision to resign from the membership of the Ghana Stock Exchange (GSE).

The decision was communicated to the Ghana Stock Exchange (GSE) and market players last week. In a public statement to the GSE, Cal brokers noted.

The broker did not give full details of why it is leaving the Ghanaian stock market as the Council of the Exchange is currently considering the exit application.

After approval, Cal brokers will cease to operate as a brokerage firm on the Ghana Stock Exchange.

This is coming amidst the current low-performance trend on the stock market.

By the end of trading last week, 2019, the Ghana Stock Exchange (GSE) had lost about GHC 4.56 billion of capital since the beginning of the year due to the bearish performance of the market.

The market closed on Thursday with total market capitalization of GHc 56.95 billion and a year-to-date fall in the composite index (GSE-CI) of -12.27 per cent, after opening the year with capitalization of GHc 61.51 billion.

CAL Brokers Limited, a subsidiary of CAL Bank Limited is a local Licensed Dealing Member (LDM) of the Ghana Stock Exchange with a strong client relationship with major Ghanaian and offshore investors and significant experience in managing and executing stock exchange transactions.