SEPT 15, 2018: GOOD WEEK FOR GHANA STOCK EXCHANGE

At the Ghana Stock Exchange last week ended September 14 2018, there was good reason for smiles as surprise offloads surfaced and as the Composite index rose by 4.75 points or 0.17%.

Make no mistake though, the prime mover especially of the GCI was the final listing of MTN Ghana the previous week.

MTN was actually the only equity that traded relatively high volumes each day of the week cumulatively ending at 1.472m shares traded.

But it only helped to drive traded volume to hard to repeat 21.857m shares exchanged through the week.

The main driver was the 19.197m shares traded in Ghana Oil on Thursday bringing total of its shares traded to 19.279m. It did not record any trade on Tuesday.

Of course, this all week volume can not be compared with 7.095m  shares in the previous that was then a record high brought on by MTN's listing.

Compared to previous week volume daily was constantly high with Wednesday recording week low of 134,388 shares.

Until Friday, the GCI rose one day and declined the next day. The week started down on Monday then rose by Tuesday before going down once again.

Naturally, as it increased again on Thursday to 2864.56, a drop should have been next on Friday but the GCI instead rose further to 2875.81 just barely above previous week's close.

Again, MTN drove the GCI upwards in the end, as it gained GHs 0.02 per share in rallies on Thursday and Friday.

The only other price gain recorded was Aluworks Ltd's GHs 0.01 per share.

There were many declines  though paced by Ghana Oil with GHs 0.42 per share drop as it shed cedis in the first 3 days of the week including losing GHs 0.02 per share while the unusual offload was exchanged on Wednesday.

Ecobank Ghana also shed net GHs 0.36 per share and Guinness Ghana went down GHs 0.03 per share.

GHANA COMPOSITE INDEX

Friday 14/9/2018:       2875.81
Thursday                      2864.56
Wednesday.                 2853.39
Tuesday.                      2879.03
Monday.                       2866.08
Friday 7/9/2018.        2871.06

TRADED VOLUME 

Friday 14/9/2018.     775,910
Thursday.                   195,917
Wednesday.               134,388
Tuesday.                 20,026,283
Monday.                      724,583


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