OCT 13, 2018: BEARS WEEK AT GHANA STOCK EXCHANGE?

It is always hard to find bears and bulls in emerging markets especially the really young and small ones still aiming for pride of place.

However, if one were to seek a bearish week at the Ghana Stock Exchange, it certainly seemed like last week ended October 12, 2018 particularly on the last trading day.

The Ghana Composite Index ended the week at 3006.86, down 48.45 points of 1.49% compared to 1.71% growth the previous week.

Actually, the market held out almost even through the week until Friday when all 7 price changes recorded headed down hinting at bears being scared.

Lead drop for the week was Benso Oil Palm Plantation's GHs 0.92 per share as it shed leading GHs 0.90 per share on Friday atop GHs 0.02 earlier lost on Tuesday.

Ecobank Ghana followed with GHs 0.45 per share decline after shedding CEDI's each day of the week except Tuesday when it gained GHs0.04 per share 

It went down GHs 0.21 per share on Friday on top of GHs 0.22 decline on Thursday and more marginal drops on Monday and Wednesday.

Access Bank was firm all through the week until the Friday dip when it lost GHs 0.267 per share.

Indeed, out of 12 price changes netted out by the end of the week, only 2 were gains: Ghana Oil's GHs 0.13 per share and Ghana Commercial Bank's GHs 0.01 per share.

While GCB recorded its gain on Tuesdayil rose by GHs 0.04 per share on Monday before adding GHs 0.09 more on Thursday.

Traded volume declined by 65% to 1.405m shares with Enterprise Group ltd leading with deals for 502,000 shares followed by MTN Ghana with 240,500 units and CAL Bank with deals for 216,700 shares.

GHANA COMPOSITE INDEX

Friday  12/10/2018.       3006.86
Thursday.                         3048.99
Wednesday.                     3040.24
Tuesday.                           3052.90
Monday.                            3052.10
Friday 5/10/2018.           3052.31

TRADED VOLUME

Friday  12/10/2018.      138,997
Thursday.                        734,067
Wednesday.                    310,076
Tuesday.                          221,885
Monday.                             20,725

TOP 5 VOLUME

Enterprise Group.         502,000
MTN Ghana.                  240,500
CAL Bank.                      216,700
Ghana Oil                          75,000
Societe Generale Bank   72,600

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