DEC 21, 2018: 2ND TIME UP GHANA STOCK EXCHANGE

It had been rare for quite a while now but on Friday December 21, 2018, Ghana Stock Exchange closed up for the second day back to back.

On Thursday, December 20, after so many days downwards, the Ghana Composite Index had finally risen from Wednesday's 1521.42 to 2525.51 on the back of 4 gains and 2 drops.

It was quite a relief but more was to come on Friday, as the GCI rose once again to 2539.06 but this time, on the back of 3 gains and 2 price drops.

All the price changes but one was by banks and the lone ranger Tullow Oil plc, declined by GHs 0.01 per share as 200 of its shares were traded at GHs 11.94 per share compared to GHs 0.75 previously.

The other price drop was by Ecobank Ghana which closed at GHs 7.47 per share compared to GHs7.5 previously after recording last deal at GHs 7 per share. In other words, it lost all of GHs 0.03 per share after 7500 units had been traded even though the deal price itself was GHs 0.05 down.

Top gain was Standard Chartered Bank's GHs 0.46 per share while some 30 of its shares were traded at GHs 20 per share compared to GHs 19.54 previously. By the close of day, offer price jumped further to GHs 22.45 per share.

For Republic Bank Ghana, topping up GHs 0.09 per share was fairly easy as well because its 500 shares were traded at GHs 0.69 per share as against GHs 0.60 on Thursday.

The GHs 0.01 per share final gain by Societe Generale  Bank was less straight forward. It recorded last deal while 9900 units were exchanged at GHs 0.75 per share, up GHs 0.02 on previous day's GHs 0.73 per share but it could not hold on and so closed the day at GHs 0.74 pee share.

However, the tug between bid and offer prices continues to the end at GHs 0.7 abs 0.75 per share respectively.

Traded volume closed the day at 131,782 shares well short of Thursday's 203,789 units.

Top of the bill was MTN Ghana's 70,400 units traded at GHs 0.77 per share with bid testing new grounds at GHs 0.76 per share at the end.


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