OCT 29, 2018: LAST WEEK AT GHANA STOCK EXCHANGE

Last week ended Friday October 26, 2018 was dominated by equity price drops not only in terms of number, but also in terms of trading days of the week.

In all the 5 days of the week, only Thursday October 25, ended with a harvest of price gains, every other day was either all drops or predominantly so.

On Thursday, all 5 gains recorded were gains led by Total Ghana's GHs 0.16 per share ;  on Friday, Wednesday and Monday all price changes were down while Tuesday closed with just one price gain out of 10 price changes.

In the end, only 2 equities ended the week with gains out of 14 price changes recorded. Total retained its gain till the end just like MTN Ghana which gained GHs 0.01 per share on Thursday and retained this on Friday.

Top decline was by Ecobank Ghana as it went down each day except Thursday and so, cumulatively, ended GHs 1.05 per share down.

It was closely followed by Standard Chartered Bank down GHs 1 per share from GHs 0.94 and 0.06 per share decline on Tuesday and Friday respectively.

Fan Milk ltd gained GHs 0.20 per share exceptionally on Tuesday, lost Ghs0.10 the next day then shed GHs 0.20 more on Friday to close the week down GHs 0.10 per share.

Ghana oil too dropped by GHs 0.10 per share after gaining and losing GHs 0.02 on top of the GHs 0.10 shed on Monday and Access Bank too declined by GHs 0.10 per share as it shed GHs 0.09 and 0.01 per share on Friday and Wednesday respectively.

As a result of the week's almost daily decline, the Ghana Composite index dropped by 45.95 points or 1.55% to 2928.07 by Friday close from previous Friday's 2974.02  with rally, of course, occurring only on Thursday briefly.

Traded volume however, at 1.189m shares was 41.5% up on previous week's 840,145 shares in spite of rather dry spells on Monday and Thursday with Wednesday chipping top volume of 568,683 shares.

This time, MTN Ghana came in 4th in terms of volume traded far behind Fan Milk 461,300 units traded in 3 days ; CAL Bank's 300,200 shares exchanged in 4 days and 114,200 units of Ecobank Transnational traded in 3 days.

MTN's 70,900 shares however, came from exceptional trading each day of the week unlike others that had at least 1 day of no trade.

COMPOSITE INDEX

Friday 26/10/2018.     2928.07
Thursday.                      2935.85
Wednesday.                  2920.57
Tuesday.                        2924.66
Monday                          2952.18
Friday 19/10/2018.      2974.02

TRADED VOLUME

Friday 26/10/2018.      267,931
Thursday.                         65,938
Wednesday.                   568,683
Tuesday.                         205,301
Monday.                            81,334

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