NOV 19, 2018: MORE, MERRIER AT GHANA STOCK EXCHANGE

At the Ghana Stock Exchange on Monday November 19 it was a case of the more the merrier as a total of 17 listed companies recorded deals compared to 13 on Friday.

The more the merrier too also translated into rally for the Composite Index at last from Friday's 2721.32 to 2736.03 although there were 7 price drops and just 3 gains.

The merrier did not translate into increased volume though as traded volume came to 340,258 shares compared to 901,163 on Friday but it did result from Investors having many deals to choose from.

On Friday, 3 companies closed with deals for above 100,000 units each and so accounted for bulk of trade but on Monday, none traded up to 80,000 shares each.

Top trade was Ecobank Ghana's 69,400 exchanged at GHs 7.5 per share without a price change although offer price did rise slightly to close at GHs 7.6 per share.

Obviously, given its heavyweight in the GCI valuation basket, MTN Ghana's gain of GHs 0.02 per share helped to drive the index upwards in spite gainers outnumbering losers by a long distance.

In all, 57,200 shares of MTN were traded with the last deal being at GHs 0.82 per share but it later closed at GHs 0.86 per share, compared to GHs 0.84 on Friday.

The other 2 price gainers also topped up with GHs 0.02 each as well. Enterprise Ghana recorded deal for just 200 units at GHs 2.62 per share as against GHs 2.6 per share previously while Ecobank Transnational witnessed exchange of 9800 shares at GHs 0.17 per share compared to GHs 0.15 on Friday.

The price losers were paced Fan Milk Ltd in which 4000 shares were traded at GHs 9 per share, down GHs 0.96 per share on Friday's closing GHs 9.96 per share.

It was trailed by Ghana Commercial Bank down GHs 0.08 per share as it closed at GHs 4.83 per share compared to GHs 4.91 previously and after recording last deal at GHs 4.75 per share while a total of 38,800 shares were traded.

Other major price drops include Guinness Ghana's GHs 0.06 per share decline to GHs 2.2 per share while recording exchange of 44,500 units; Standard Chartered Bank down GHs 0.05 per share as 10,880 shares were traded and Total Ghana which shed GHs 0.04 per share while witnessing last deal at GHs 4.05 per share as 24,400 in all were traded.

Others were CAL Bank's GHs 0.02 per share decline as 3200 units were traded at GHs 0.98 per share and Societe Generale's 900 shares sold at GHs 0.89 per share, down GHs 0.01 per share.

The bond market was active too with traded value coming to GHs 122.557m in 187 deals.

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