JAN 11, 2019: TREND ENDS AT GHANA STOCK EXCHANGE

The up one day and down the next trading day trend discernible at the Ghana Stock Exchange since this new year came to an end on Friday January 11 2019 with a drop in the Composite Index, instead of a growth.

The GCI dropped from Thursday's 2574.28 to 2573.42 whereas an increase should have accompanied Thursday's drop from Wednesday's 2582.70.

The Friday rest of the days old trend was as 4 price changes were recorded: 3 down and only one up.

The lone gainer was SIC Insurance up GHs 0.01 as it recorded last deal and closed at GHs 0.2 per share while 1000 units were traded compared to Thursday's closing GHs 0.19 per share.

Bid price at the close of day further confirmed the new price but no takers hence no new deals were recorded.

The leading price loser was Enterprise Ghana down GHs 0.04 per share while 500 units were traded. The last deal and also closing price was GHs 2.2 per share as against GHs 2.24 per share previously.

However, offer stayed back at the old price by day close but bid price remained on the new price hence price mismatch led to no additional deals.

All other 2 price drops were GHs 0.01 per share each. Fan Milk went down that much as it witnessed last deal and closed at GHs 8 per share compared to GHs 8.01 the previous day. This was as the day's 2nd highest 16,900 shares were exchanged.

Ghana Commercial Bank was the other price loser as it closed at GHs 4.59 per share compared to GHs 4.6 previously as 4,200  its shares were traded.

However, bid price slipped further to GHs 4 per share at the end of the day leaving no room for more deals as offer stayed at the last deal price.

In all, there were only 43,877 shares traded on Friday. This was lower than 53,879 shares exchanged on Thursday which more or less signal below average daily trade as the GCI stopped dancing to old up and down tune 

Top trade was in. Starwin Products Ltd in which 17,700 shares were traded with the price per share firm at Thursday's GHs 0.02 per share. 

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