APRIL 5, 2019: AFTER DOWN POUR AT GHANA STOCK EXCHANGE

Trading on Friday April 5, 2019 at the Ghana Stock Exchange was like dry wind after a surprise down pour

First, the first 3 days of the week had recorded low number of equities with deals or low traded volume.

Then come Thursday, at 7, the number of equities with deals was neither low or average but traded shares landed like a down pour

With both Ghana oil and MTn Ghana witnessing exchange of above 500,000 shares each and Ecobank Ghana chipping in above 100,000; traded volume closed the at 1.23m shares.

Then come Friday, even with 9 equities closing with trade, quantity involved per equity was so small, total traded volume came to 84,071 shares second lowest in the week after Monday's 67,329 shares

However, the Ghana Composite Index closed up for the second day on Friday, settling at 2444.43 after rising to 2440.18 on Thursday from Wednesday's 2439.85 week low. In the end, the GCI closed the week 0.44% down on previous week's closing 2454.51.

This was as 2 price gains and no drop were recorded: The 2 gains were GHs 0.01 per share each and recorded by Ghana Commercial Bank and Ecobank Transnational Incorporated.

Both of them closed at last deal price. For GCB, that was GHs 3.94 per share compared to GHs 3.93 previously and involved were 1500 shares. However, closing offer price was GHs 4 per share.

In the case of ETI, the closing price was GHs 0.14 per share compared to GHs 0.13 by Thursday and also while 1500 of its shares were traded

Three others closed firm but with possibility of future price shifts apparent by Friday close. Enterprise Ghana recorded last deal at GHs 2.25 per share as 1400 shares were traded but lost the GHs 0.01 gain in it to close firm at GHs 2.24 per share.

In the case of Guinness Ghana, the last deal price for 300 units exchanged was firm at GHs 2.19 per share but asking price ended at GHs 2.2 per share without counter bid.

The case of Standard Chartered Bank Ghana was abit more classic. Only 50 shares were traded and at GHs 19.9 per share; down on the firm GHs 20 per share it ended the day.  Then as if to make more classical, bid price dropped to GHs 17 per share.

Ghana Oil accounted to top trade as 52,000 of its shares were exchanged in deals worth day high GHs 126,360 followed by MTN Ghana in which 25,900 shares were traded for GHs 18,130.

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