APRIL 2, 2019: GHANA: STILL EASING

The Ghana Stock Exchange continued to decline on Tuesday April 2 after starting the month with the Ghana Composite Index 4.79 points down on Monday.

The GCI shed another 7.52 points to close at 2442.2 on Tuesday as 4 price drops and no gains were recorded in the market.

Top price loser was Ghana Oil as it shed GHs 0.06 per share to close at GHs 2.43 per share compared to GHs 2.49 on Monday. And almost hinting at more price drops to come, it closed on bid and offer at GHs 2.16 and 2.34 per share respectively.

Interestingly, Ghana Oil has been sliding since Friday. On Friday March 29 and Monday April 1, it shed GHs 0.02 per share each day.

However, the closing GHs 2.43 per share was after last deal for 4400 of it's traded shares  was struck at GHs 2.36 per share and that represented a now low. Traded were 59,900 shares worth GHs 145,594 thus leading both traded volume and value for the day.

Ecobank Ghana also shed GHs 0.03 per share to close at last deal price of GHs 8 per share as against GHs 8.03 on Monday. In all 300 of its shares changed hands and closing bid and offer prices were GHs 7 and 8.6 per share respectively.

The other price changes were of GHs 0.01 per share each. Ecobank Transnational Incorporated declined to GHs 0.13 per share from Monday's GHs 0.14.

A total of 59,500 of ETI's shares were traded for GHs 7990 and offer price ended the day at GHs 0.16 per share without any corresponding bid.

SIC Insurance was the other price loser as it closed at last deal price of GHs 0.14 per share while 600 shares were exchanged.

Compared to Monday trading picked up strongly as 10 listed equities recorded trade as against only 4 on Monday.

Traded volume at 143,085 shares was higher too when compared to 67,329 shares exchanged the previous day.

Top of volume was Ghana Oil followed by ETI but in terms of traded value, Ghana Oil's lead was followed by Ghana Commercial Bank with GHs 17,600 before ETI placed 3rd with GHs 7990.

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