NOV 26, 2018: LAST WEEK AT GHANA STOCK EXCHANGE

The one glaring thing about last week ended November 23, 2018 at the Ghana Stock Exchange was that trade was bountiful but prices discovered trended down more.

Yes, there were only 8 price drops and 3 gains within the week compared to 10 drops and 3 gains the previous week but all this resulted to was slight decrease in the rate of decline of the Composite Index.

The GCI declined by 3% from 2721.32 to 2639.73 compared to 3.4% drop the previous week. It started the week with a rally to 2736.03 on Monday then went down daily from then on till Friday close.

The leading price gainer for the week was Enterprise Ghana which added GHs 0.02 per share on Monday and Tuesday, then shed GHs 0.02 per share on Thursday.

The rest 2 were Ecobank Transnational Incorporated and SIC Insurance with GHs 0.01 per share gain each.

On the other hand, top price drop was GHs 1.08 per share by Fan Milk ltd in which there were price changes in 4 out of the 5 trading days. It started the week with major GHs 0.96 per share decline on Monday, gained and lost GHs 0.23 per share on Tuesday and Wednesday respectively before shedding GHs 0.12 per share on Thursday.

Other major price drops were GHs 0.16 per share by Republic Bank Ghana in one go on Thursday; and GHs 0.10 decline by Ghana Commercial Bank following 4 days of price changes most of it downwards.

As for trade within the week, it was bountiful. In all 4.478m shares were traded 54.8% up on the equally high 2.24m shares recorded the previous week.

Of course MTN Ghana led the way with deals for 2.203m shares recorded  mostly as 2.14m were offloaded on Thursday but there were other relatively top trades too.

ETI recorded deals each day of the week but witnessing exchange of 735,600 and 57,700 shares on Friday and Thursday respectively made a difference to its final ranking as 2nd on the traded volume scale with 804,800 traded.

Others in the top 5 include Fan Milk with 601,000 shares; GCB with 340,900 units and CAL Bank that also recorded trade each day totalling 254,600 shares for the week.

GHANA COMPOSITE INDEX

Friday 23/11/2018.      2639.73
Thursday.                      2640.62
Wednesday.                  2685.56
Tuesday.                       2688.08
Monday.                        2736.03
Friday 16/11/2018.     2721.32

TRADED VOLUME 

Friday 23/11/2018.     987,544
Thursday.                   2,203,400
Wednesday.                    90,887
Tuesday.                       536,583
Monday.                        340,258


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