FEB 7, 2019: GHANA: LIGHT AT THE TUNNEL

Since this week, it had been a dark tunnel of daily shrinking at the Ghana Stock Exchange but this was punctuated on Thursday by a rise in the Composite Index.

The GCI  closed down each day since Monday after Friday's rally then on Thursday, February 7, it finally reversed trend by closing at 2502.17 from Wednesday's week low of 2484.10.

This was as 5 price changes recorded led to only 1 closing down. The lone ranger, SIC Insurance, hit a new year low with GHs 0.19 per share, down GHs 0.01 on Wednesday's closing GHs 0.2 per share. 

A total of 8600 of its shares were traded and the last deal was at the closing price although further drop seemed guaranteed because offer price eased further to GHs 0.18 per share on the same Thursday.

Of the gainers, the leader was Trust Bank Ltd up GHs 0.03 per share during deals for 3000 shares as it closed at last deal price of GHs 0.26 per share compared to GHs 0.23 previously.

Interestingly, on February 1, 2019, that is the first trading day of this month, TBL shed the same GHs 0.03 per share accompanied by deals recorded for 30,000 shares exchanged.

Societe Generale Ghana was another major price gainer too rising by GHs 0.02 per share as 2300 shares were traded. It closed at last deal price of GHs 0.96 per share against GHs 0.94 on Wednesday. However, bid price reverted to GHs 0.94 per share at close but no takers.

The other 2 price gains were of the GHs 0.01 per share variety. MTN Ghana climbed back to GHs 0.75 per share after its last deal went for Wednesday's closing GHs 0.74 per share to top up by GHs 0.01 per share.

This was as 3200 of its shares were traded and what's more bid price slipped to GHs 0.72 per share leaving offer at the closing price per0 share of GHs 0.75 per share. 

After Wednesday's week high propelled by offload in Guinness Ghana Breweries, traded volume took a real tumble to only 28,121 shares traded compared to 1.372m shares on Wednesday. 

Top traded volume was SIC Insurance mentioned before followed by CAL Bank in which 6900 shares were exchanged for GHs 69