MAR 15, 2019: GHANA: DOWN 0.89% IN A WEEK.

After closing up only once out of a 5 day trading week, the Ghana Stock Exchange in the week to Friday March 15 2019 closed down 22.21 points or 0.89%.

The Ghana Composite Index had gained about 2 points to close at 2478.74 on Monday to herald the week but that turned out to be all week high.

The next day the daily decline started and by Friday it ended at 2454.34, down 22.21 points or 0.89% on previous Friday's closing 2476.55.

While the first 2 drops were principally driven by one sided price changes, on Thursday it occurred as 2 price gains and 3 drops were recorded then it was in spite of 2 gains and only one drop.

The lone decline on Friday was by MTN Ghana which continued to seek a bottom. Day high 13,000 shares of MTN Ghana were traded while it closed at last deal price of GHc 0.7 per share.

This was GHc 0.1 per share lower than the GHc 0.71 per share firmed on Thursday while 2000 units changed hands just like leading 22,500 of its shares on Wednesday, March 13.

The struggle continued by Friday close though because offer price reverted to GHc 0.71 leading to mismatch and no new deals.

Access Bank ended GHc 0.2 per share up on Friday while its 200 shares were exchanged at GHc 4 per share compared to GHc 3.8 per share previously.

This was a new high for Access Bank and looked set to be retained for a while as offer closed firm on it without new matching bid.

Ecobank Ghana, on the other hand, may climb further next trading day after gaining GHc 0.11 per share while it closer Friday at last deal price of GHc 7.74 per share, compared to GHc 7.63 previously.

The possibility of more gains surfaced because offer price closed the day at GHc 7.75 per share up GHc 0.01 but bid price stayed firm at last deal price leading to mismatch and no new deals. This was after 4200 shares had been exchanged.

Traded volume hit all week low on Friday with only 38,964 shares traded as against week high of 504,547 shares on Thursday. Indeed the week turned to be a low volume one with only Monday (102,258 shares) and Thursday recording above 100,000 units.

In terms of traded value on Friday, Unilever Ghana paced with deals for 8900 shares worth GHc 157,441 at firm GHc 17.69 per share followed by Ecobank Ghana with its 4200 units fetching GHc 32,515 and Ghana Oil in which 5800 shares were exchanged for GHc 14,732.

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