JAN 17, 2019: GHANA: VOLUME DIVES

Traded volume  took a drive on Thursday  January  17, 2019 at Ghana Stock Exchange  bringing to a halt 3 days of consistent increase. 

A total of 98,638 shares were traded  within the day compared to week long high of 1.345m the previous  day. On Monday,  128,819 units were traded and this rose to 182,882 shares on Tuesday  before  the Wednesday  peak. 

Most of the trades  recorded were below 30,000 each led by 25,000 shares of MTN traded followed by 18,000 shares of SIC Insurance  and Ghana  Commercial  Bank's 17,100 shares. 

The last deal  for the MTN shares was at GHs 0.79 per share  but the equity went ahead to close the day at GHs 0.78 per share down  GHs 0.01 per share.  Bid price however ended at GHs 0.76 per share leading to no new deals. 

SIC Insurance  also went down GHs 0.01 per share as it closed at the last deal price of GHs 0.24 per share compared  to GHs 0.25 previously. 

However,  in the case of GCB,  it gained GHs 0.03 per share as the last deal was recorded  at GHs 4.5 per share as against GHs 4.47 on Tuesday  although bid price,  again,  slipped  further to GHs 4 per share. 

There were 3 price drops  and 2 gains in all with GCB recording the highest price change,  all else,  whether down or up was at GHs 0.01 per share. 

Aside  from MTN and SIC Insurance,  the 3rd price drop was by Ghana  Oil as it closed at its last deal price of GHs 3.1 per share  as against GHs 3.11 previously. 

Much the same way,  the other price gain was by Societe Generale which recorded  deals for 10,000 shares. The last deal and closing price was at GHs 0.84 per share.

In the end,  the Ghana Composite  Index dropped  to 2564.66 after 2 consecutive  days upwards. The GCI had risen from 2561.63 on Monday to 2567.88 on Tuesday  before  rising again on Wednesday  to close at 2575.99.

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