APRIL 12, 2019: GHANA STOCK EXCHANGE DOWN 1.58%

Ghana Stock Exchange shrunk in the week ended Friday April 12, 2019 compared to previous week.

The Ghana Composite Index closed Friday at 2405.83, down 38.6 points or 1.58% on previous week's closing 2444.43 which itself had declined by 0.44 % or 10.08 points.

Of the 5 days of the week, the GCI only rallied on Thursday and declined every other day. On Monday it closed at 2414.74, down 29.69 points then slipped further to 2412.25 on Tuesday and then, 2411.87 on Wednesday.

It was from here it rallied to 2415.23 on Thursday before ending the week on Friday at 2405.83, that is down again by 9.40 points.

The Friday decline was in spite of 2 equities each with price  gains and drops. Ghana Oil, which incidentally also recorded top trade for the day, gained GHs 0.22 per share  to close at last deal price and new low of GHs 2.2 per share compared to GHs 2.42 on Thursday. This was while 28,100 of its shares were traded for GHs 61,842.

The other price decline was by Societe Generale Bank Ghana as it shed GHs 0.02 per share also to close at last deal price of GHs 0.85 per share while 3000 of its shares were exchanged.  The previous price was GHs 0.87 per share.

Ghana Commercial Bank rose by GHs 0.02 per share to close at GHs 3.95 per share compared to GHs 3.97 per share previously. But this was after the last of its 400 shares were traded at GHs 3.96 per share.

This meant that after the last deal, GCB recovered GHs 0.01 per share. However, the tussle between bid and offer continued into mismatch of GHs 3.95 and 4.1 per share respectively.

On its part, Standard Chartered Bank Ghana's rarely traded preference shares closed active with deals for 800 units recorded at GHs 0.86 per share, up GHs 0.01 on previous GHs 0.85 per share. Bid price though slipped further to GHs 0.75 per share.

For now, MTN Ghana survived bid pressure downwards as it closed firm at GHs 0.7 per share while witnessing deals for 4400 units worth GHs 3080. Bid price though closed at GHs 0.68 per share.

However, it was traded in SCB equity involving 1000 shares at firm GHs 19.5 per share, that clinched 2nd highest GHs 19,500 traded value for the day.

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