DEC 20, 2018: ALAS, INDEX UP AT GHANA STOCK EXCHANGE

At last, the Composite Index at Ghana Stock Exchange finally hit a bottom on Wednesday and did some bouncing back on Thursday but it is hard to tell if it is for good.

The GCI closed at 2525.51, compared to new daily low of 2521.42 reached on Wednesday.  This time it was as 4 price gains and 2 drops were recorded.

The lead drop was by very rarely traded AngloGold Ashanti depository shares which came relatively alive on Thursday with deals for 64,200 shares with last deal at GHs 0.41 per share, down GHs 0.07 per share from previous GHs 0.48 per share.

It was a lone ranging price change too as the rest 5 price changes for the day were at GHs 0.01 per share.

The other price drop was Enterprise Ghana in which 300 units were traded at GHs 2.24 per share compared to GHs 2.25 previously.

Two of the price gainers were banks: CAL Bank and Ecobank Transnational Incorporated. ETI recorded deals for only 700 shares at GHs 0.16 per share, then it closed at GHs 0.15 per share, compared to GHs 0.16 on Wednesday.

On the other hand. Cal Bank recorded exchange of 1200 units with last deal at GHs 0.96 per share but by day end, bid price stood at GHs 0.94 per share.

Fan Milk was one of the non banks that closed up and it simply did when 100 of its shares were traded at GHs 8 per share compared to GHs 7.99 per share on Wednesday.

Last but not the least, SIC Insurance recorded deals for 1000 units closing at last deal price of GHs 0.18 per share, as against GHs 0.17 per share previously.

In all, there were 203,789 shares traded during the day representing a significant drop on Wednesday's 790,027 units. Top trade was in Standard Chartered Bank's 122,000 shares exchanged at firm GHs 19.54 per share although closing bid price eased further to GHs 19 per share leaving no room for more deals.

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