FEB 8, 2019: GHANA: DOWN ALL THE WAY.

At the Ghana Stock Exchange on Friday 8, 2010, hope for sustained rally by the Ghana Composite Index faded  as all 4 price changes recorded pointed downwards.

The GCI eased to 2485.56 from Thursday's 2502.17 after recovering from daily price drop for days thus implying that the rally was temporary.

All the 4 price drops were of GHs 0.01 per share range and involved 2 banks leading to decline in the financial sector index as well.

Ecobank Ghana recorded deals for 71,500 shares, the day's highest volume while closing at last deal price of GHs 7.49 per share as against GHs 7.5 previously. Bid price though closed the day at GHs 7 per share.

Its holding company, Ecobank Transnational Incorporated also rose to close at GHs 0.16 per share but that was after 34,000 shares had been traded at opening GHs 0.15 per share.

MTN Ghana finally succumbed to running GHs 0.74 per share  compared to GHs 0.75 it had retained for a while. This was as 5600 of its shares were traded and promptly too, bid price found new pressure point: GHs 0.72 per share while offer stayed at the closing price.

The other price drop was witnessed by Benso  Oil Palm Plantation with just 100 of its shares were traded at GHs 4.88 per share as against GHs 0.89 previously. Offer though closed back at GHs 0.89 per share.

Traded volume very easily recovered from all week of 28,121 shares on Thursday to 125,499 shares. However, compared to Wednesday's 1.372m shares; Monday's 564,642 units and even Tuesday's 225,845 shares, it was still low.