JAN 24, 2019: GHANA: SECOND TIME UP

For the 2nd time this week, the Ghana Stock exchange closed on a positive note on Thursday. January 24 2019 as the composite index rallied to 2515.70 from 2502.33.

The first time was on Monday at the start of the week when the GCI closed at 2557.62, just barely ahead of 2556.28 recorded on Friday.

From here it took a major dive on Tuesday to 2510.38 then shed some more points the following day, Wednesday to 2502.33.

The Thursday rally occurred as 2 price gains and 1 drop was recorded. The lone decline was by Republic Bank down GHs 0.02 per share to close at GHs 0.7 as against GHs 0.72 per share previously.

Interestingly, that was after RP hit a new low with last deal price of GHs 0.69 per share while 9700 of its shares were exchanged. In the end, bid price slipped further to GHs 0.65 per share while offer price recovered to GHs 0.72 per share.

The price gainers were paced by Benso Oil and Palm Plantation, up GHs 0.64 per share as it closed at the deal price for 100 shares traded at GHs4.89 per share compared to GHs 4.25 on Wednesday.

Ecobank Ghana recorded the other price gain rising by GHs 0.4 per share to close at last deal price of GHs 7 per share against GHs 6.6 previously. In all 600 of its shares were traded and bid price reverted to GHs 6.6 per share with no takers.

Traded volume stood at 226,279 shares, down on Wednesday's 283,591 but the 2nd highest since the week since 122,421 shares were traded on Monday and 112,700 on Tuesday, week low so far.

Ghana Commercial Bank closed firm but witnessed leading volume of 119,200 shares exchanged at GHs 4.49 per share although bid price closed at GHs 4 per share. 

MTN Ghana too recorded major trade with 75,500 of its shares offered and taken up at last deal price of GHs 0.75 per share. This price was down GHs 0.01 per share on Wednesday's GHs 0.76 per share but MTN rallied after the last deal to close firm.

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