JAN 21, 2019: GHANA; EQUAL CHANGE; DIFFERENT IMPACT

At the Ghana Stock Exchange on Monday January 21, 2019 there were only 2 price changes one each up and down with equal Cedis  lost or gained but different impact.

Both Ghana Oil Company and Societe Generale recorded GHs 0.03 per share price changes down and up respectively but Composite Index ended up at 2557.62 compared to 2556.28 on Friday.

Of course this was direct reflection of their relative weights in the index valuation basket which though embraces all equities, as usual attaches weights relative to market capitalisation.

Of the 2, Societe, according to figures obtained from the exchange website, has far more issued capital hence its greater impact on the GCI.

Societe closed up GHs 0.03 at GHs 0.88 per share as deals were struck for 2000 of its shares with the last also at the price compared to GHs 0.85 per share on Friday. At the close of day though, offer price rose some more to GHs 0.9 per share to mismatch with same GHs 0.88 on bid.

Ghana Oil on the other hand recorded deals for 600 units with last deal and closing price at GHs 3.07 per share.

In all, 122,421 shares were traded at the start of the new week with Ecobank Transnational Incorporated accounting for 106,600 shares with last deal at GHs 0.15 per share. This was firm at Friday's closing price but offer did move up a little to GHs 0.16 per share.

The other major traded volume was witnessed by Ayton Drug Manufacturing Company (AYRTN) in which 10,000 shares changed hands while closing firm at GHs 0.08 per share.

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