NOV 20, 2018: JUST PUNCTUATION AT GHANA STOCK EXCHANGE

The rally in the Ghana Composite index on Monday November 19 at the Ghana Stock Exchange has turned to be just a punctuation as it resumed downwards on Tuesday November 20.

The GCI ended the day at 2688.08, down 47.95 points from Monday's positive growth to 2736.03 on the main back of MTN Ghana's GHs 0.02 per share gain.

This time there were only 4 price changes and all but one were down. The lone ranger, Fan Milk interestingly, went down GHs 0.96 per share to pace declibe on Monday.

On Tuesday, it gained back GHs 0.23 per share to close at GHs 9.23 per share after recording last deal at GHs 9.17 per share. It was indeed a very active day for FML because 521,300 of its shares were traded accounting for the bulk of the day's 536,583 traded volume.

Offer ended at GHs 9.18 per share though hinting at the closing price not being likely to hold for long although again, a deal can be struck at low price then bounce back like it happened on Tuesday.

The 3 price losers were led by Ghana Commercial Bank with GHs 0.06 per share drop to record a deal for 100 units and close at GHs 4.77 per share compared to GHs 4.83 previously.

MTN Ghana reversed Monday's gain by closing and after recording last deal at GHs 0.82 per share. In all 3000 of its shares were traded and offer price ended back at GHs 0.86 per share.

Enterprise Ghana shed GHs 0.02 per share which it gained on Tuesday. With 300 units being exchanged, the last deal and closing price was GHs 2.6 per share compared to GHs 2.62 per share it rose to previously when only 200 shares also changed hands.

Unlike on Monday, it was not a case of more, the merrier on Tuesday although some 15 companies recorded deals, just 2 short of previous trading day.

Every other trade recorded was below 4000 shares per each of the 15 companies except the FML top volume.

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