FEB 26, 2019: GHANA: DOWN AGAIN

After starting the week on an optimistic note on Monday February 25, Ghana Stock Exchange closed downwards on Tuesday February 26 2019 raising spectre of another round of decline.

The Ghana Composite Index had closed up on Monday as out 3 price changes, 2 were gains. On Tuesday, the reverse more or less the case 3 price drops and 2 gains.

Hence the GCI dropped 8.43 points to 2490.85 from Monday's 2499.28. All 3 price drops were by banks while only one bank ended up.

The decline was led by Ghana Commercial Bank with GHs 0.06 per share decline to close at GHs 4.04 per share compared to GHs 4.1 on Monday.

This was after recording last deal in the exchange of 1100 shares at GHs 4 per share. More deals could have been struck but for closing bid and offer price mismatch as bid dropped sharply to GHs 3.5 per share and offer price eased down to GHs 4.0 per share which incidentally was a new low for GCB.

Republica Bank Ghana also declined but by GHs 0.05 per share as it closed at last deal price of GHs 0.55 per share compared to GHs 0.6 on Monday. There were no closing bid and offer prices.

The last price drop was by Ecobank Transnational Incorporated which equally recorded the day's highest traded volume.

ETI closed at last deal price of GHs 0.15 per share as it witnessed exchange of 103,200 shares worth GHs 15,512. This represented GHs 0.01 per share drop on previous day's GHs 0.16 per share.

CAL Bank was the lone bank with price gain. It rose by GHs 0.02 to close at last deal price of GHs 0.95 per share compared to GHs 0.93per share previously while recording deals for 1000 units.

The lone non bank with price change was Enterprise Group up GHs 0.01 per share to close at last deal price of GHs 2.18 compared to GHs 2.17 previously. This was while 2300 of its shares were traded.

By close of business on Tuesday, traded volume was 144,320, up considerably on Monday',s 81150 shares.

Top traded value was recorded as 4500 shares of Total Petroleum Ghana were traded at firm GHs 4.6 per share for total value of GHs 20,700.

It was trailed by MTN Ghana in which 24,100 shares were exchanged in deals worth GHs 17,599.

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