FEB 19, 2019: GHANA: FOUR REASONS DOWNWARDS

As if to establish clearly the 4 reasons to return to downwards slide, the Ghana Stock Exchange closed with 4 price changes on Tuesday February 19 and all were pointed down.

As a result the Ghana Composite Index dropped by 16.02 points to 2481.9 after the rally on Monday.

CAL Bank led the 4 price drops by closing at GHs 0.86 per share, down GHs 0.05 on the GHs 0.91 per share recorded on Monday  This was after 123,800 shares had been exchanged with last deal price of GHs 0.85 per share.

In other words after the last deal was struck, CAL bank recovered by GHs 0.01 per share to close at higher GHs 0.86 per share.

The 3 other decline in prices were of the same GHs 0.01 per share range. Ghana Commercial Bank's 300 shares were traded at GHs 4.13 per share compared to GHs 4.14 previously.

Much the same way, Ghana Oil witnessed deals for 1900 shares and closed at last deal price of GHs 2.93 per share as against Monday's GHs 2.94 per share. Offer price however, reverted to GHs 2.94 per share but no new takers.

MTN Ghana was the other equity with above Ksh 1 per share. It closed at GHs 0.73 per share compared to GHs 0.74 previously. This was the last deal price while 42,900 of its shares were exchanged.

Traded volume recovered strongly to 356,719 shares from Monday's 164,927 principally as deals firm price of GHs 0.15 per share were struck for exchange of 152,000 shares of Ecobank Transnational Incorporated.

Later though, offer tried to recover the lost ground by ending at GHs 0.16 per share but this only led to price mismatch.

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