JAN 23, 2019: GHANA: INDEX DOWN INSPITE OF BANKS

Two banks closed up at Ghana Stock exchange on Wednesday January 23, 2019 but they could not stop the Ghana Composite Index from going down.

The GCI closed the day down 8.05 points to 2502.33 not comparable though to the dive to 2510.38 on Tuesday from 2557.62.

The Wednesday decline was essentially because 3 non bank equities closed downwards and ended up driving the GCI down.

Lead drop was by Ghana Oil with GHs 0.02 per share decline, exactly the same figure it lost on Tuesday. It witnessed deals for 300 units at GHs 3.03 per share compared to GHs 3.05 on Tuesday close. Besides, offer price dipped further to GHs 3 per share with no takers.

All 2 other price drops were GHs 0.01 per share each. MTN Ghana eased once again hitting yet another low at GHs 0.76 per share from Tuesday's GHs 0.77 per share.

Trade was in 53,500 shares of MTN with last deal at the closing price but further drop looked  possible as bid price slipped further to GHs 0.75 per share.

SIC Insurance recorded top volume for the day as 102,000 of its shares were traded with last deal at GHs 0.22 per share. This was down though on GHs 0.23 per share on Tuesday 

Of the 2 banks, CAL Bank closed GHs 0.02 per share up as 26,700 of its shares were traded with last deal at GHs 0.9 per share as against GHs 0.98 previously.

In the other hand, Ecobank Ghana rose by GHs 0.01 per share to close at GHs 6.6 per share after recording last deal at GHs 7 per share. In all 1700 of its shares were traded and by the day's close offer price was GHs 7.29 per share 

A total of 283,591 shares were exchanged by the end of the day, up on the 112,700 on Tuesday and even on Monday's 121,421 shares.

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