NOV 28, 2018: NEW LOWS GALORE AT GHANA STOCK EXCHANGE

Of the 9 prices changes recorded at Ghana Stock Exchange on Wednesday November 28, 2018, 5 out of 7 drops ended as new year lows and none of the 2 price gains were new year high.

It is a pointer to the fact that investors remain cautious about future prospects hence the Ghana Composite Index once again declined, this time to 2644.78 from 2666.81 on Tuesday and after Monday's rally.

The pair of Republic Bank and Fan Milk paced price drops and the new lows with GHs 0.08 per share decline each.

Fan Milk witnessed exchange of only 200 shares at GHs 8.8 per share with which it also ended the day compared to GHs 8.88 per share previously. This was a new year low.

Republic Bank on the other hand, closed the day at GHs 0.86 per share compared to GHs 0.94 previously but after recording last deal at GHs 0.82 per share. Much as the closing price was also a new year low, bid and offer prices closed lower at GHs 0.8 and 0.82 per share respectively.

All other price drops were of GHs 0.01 per share except Societe Generale's GHs 0.02 per share decline into GHs 0.86 per share, a new year low. This was as 13,200 units were traded with last deal at the closing price. However, bid price closed further down to GHs 0.84 per share.

Of those that shed GHs 0.01 per share, SIC Insurance ended above year low. Its 700 shares were exchanged with last deal and closing price at GHs 0.15 per share as against GHs0.16 previously.

CAL Bank touched new low as it closed at GHs 0.95 per share which was the last deal price as total of 9900 shares changed hands; and Enterprise Group Ltd also settled at new low of GHs 2.52 per share the last deal price per share as 229,100 shares changed hands.

Finally, mighty MTN Ghana shed GHs 0.01 per share as it recorded last deal and closed at GHs 0.81 per share. In all 3400 of its changed hands.


The 2 price gainers each added GHs 0.01 per share. Ghana Commercial Bank paced the day's volume with 271,500 units exchanged with the last deal at GHs 4.8 per share compared to GHs 4.79 on Tuesday.

Unilever continued its rally started the previous day by closing at GHs 17.78 per share thus gaining GHs 0.01 per share on Tuesday and Wednesday.

After Tuesday real trickle of just 13,457 shared, traded volume recovered rather strongly to 630,466 shares on Wednesday paced by leading trades in both GCB and EGL.


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