MAR 26, 2019: GHANA: UP FOURTH DAY

On Tuesday March 26, 2019 the Ghana Stock Exchange closed 4th day up as the Composite index rose by 13.45 points or 0.55% to 2360.90.

On Friday, March 22, the GCI had risen to 2440.56 after an earlier increase on Thursday to 2435.94 from Wednesday's 2434.25. Then on Monday it closed at 2447.45 up 5.89 points.

Thus, the Tuesday rally was the highest within the range as of the 9 price changes recorded, 5 were gains and 4 drops especially of the marginal kind.

Total Ghana and Ecobank Transnational Incorporated went down just barely. Total shed GHc 0.002 per share as its 2300 shares were traded at GHc 5.09 per share.

ETI too ended down GHc 0.001 per share after 2500 of its shares at GHc 0.15 per share. This was hardly a drop and the closing price was rather firm at GHc 0.16 per share.

A major decline was GHc 0.01 per share by Mechanical Lloyd Company plc in which 2200 shares were exchanged at GHc 0.09 per share compared to GHc 0.1 per share previously. Offer price though reverted to the old price leading to mismatch.

Another major one was GHc 0.01 per share too by Societe Generale Ghana in which 500 shares were traded at GHc 0.89 per share, compared to GHc 0.9 previously.

Undoubtedly, the really major price changes were gains led by Enterprise Group with GHc 0.15 per share gain to close at GHc 2.14 per share. This was after last deal was struck at GHc 2.25 per share compared to GHc 2.09 on Monday.

In Republic Bank of Ghana, only 100 shares were exchanged but this was at GHc 0.63 per share, up GHc 0.08 per share on Monday's closing GHc 0.55.

Ecobank Ghana was yet another price gainer. It closed at GHc 8.03 per share up GHc 0.07 per share but it actually had a chance to close higher at GHc 8.06 per share, the last deal price as 2200 units were traded. However, bid ended the day at GHc 8.05 per share, hinting at more price increase.

Just like EGH, Cal Bank to had last deal at lower price then closed up as 2200 of its shares were also exchanged. The last deal was at GHc 1.05 per share but it closed at GHc 1.08, up GHc 0.04 on Monday's GHc 1.04 per share.

The least price gain was GHc 0.01 recorded by Standard Chartered Bank but it most likely had the greater impact on the GCI being a relatively high priced equity.

Some 4000 of its shares were traded at Monday's closing GHc 19.99 per share but it went on to close the day at GHc 20 per share. Bid price though ended at GHc 18 per share while offer scaled back down to GHc 19.9 per share.

Compared to Monday, traded volume at 122,800 shares was down from 233,314 shares previously. This time MTN Ghana paced with deals for 75,700 shares worth 2nd place GHc 52,998.

Top traded value was SCB's GHc 79,997.5 realised by investors from the 4000 shares traded.

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