MAR 18, 2019: GHANA: VOLUME UP BUT STILL LOW.

Traded volume recovered significantly on Monday March 18 2019 at the Ghana Stock Exchange but it was  still relatively below average.

In all, 51,301 shares were traded, almost twice the 38,964 shares exchanged on Friday March 15 but far below 100,000 shares which is more the average.

This kind of hints that the scarcity that enveloped the market through the better part of last week was still very much around.

Top trade was recorded by MTN Ghana which also closed firm at its year low of GHc 0.7 per share despite offer attempt to raise the price to GHc 0.71 per share by Friday close

Some 23,800 shares of MTN Ghana were traded at GHc 0.7 per share for a total value of GHc 16,660, the 2nd highest traded value for the day.

Interestingly, after the last deal, offer price rose to GHc 0.8 per share but bid stayed firm at the deal price.

Enterprise Ghana recorded top traded value of GHc 45,440 as its 2nd highest volume of 20,600 shares were traded with last deal price coming to GHc 2.1 per share

However, EGL did not close at this price, it recovered a little more to end the day at GHc 2.21 per share; that is down GHc 0.03 per share on Friday's GHc 2.24 per share.

Offer price though did revert to GHc 2.1 per share but bid at close of day was GHc 2 per share leading to mismatch to be resolved on another day.

Indeed, EGL was one of the 3 equities that shed prices on Monday without any gains driving the Ghana Composite Index down to 2451.4 from Friday's 2454.34.

Setting the pace for all three and hitting new year low in the process was Benso Oil Palm Plantation, down GHc 0.73 per share.

BOPP's 1000 shares were exchanged for GHc 4150 while closing at last deal price of GHc 4.15 per share compared to GHc 4.88 on Friday.

The other price drop was GHc 0.01 per share by PZ as it hit new year low as well. Its 100 shares were exchanged at GHc 0.4 per share as against GHc 0.41 previously.

Ghana Commercial Bank recorded deals for 1000 shares while closing firm at GHc 4 per share but the interesting part was that offer price jumped to close at GHc 4.6 per share leading, again to mismatch and no more deals

In the case of Societe Generale the reverse was the case as, after its 800 shares were traded to firm GHc 0.9 per share, bid price dropped to GHc 0.86 per share and, the result? Another price mismatch.

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