Volumes soar but market index drops

Accra (Greater Accra) 13 April '99

The total volume of shares traded on the Ghana Stock Exchange (GSE) on Monday soared, but a drop in the share price of a major equity pushed the All-Share Index down by 1.98 points. The market index opened the week lower at 824.50 points, down from the 826.49 points registered at the end of trading on Friday. The market, however, is under bearish sentiments, as total shares offered on the floor ended at four million shares, while bids closed far lower - at 1.6 million. Dealers said bids are on the rise, and this could be a signal that profit taking could be coming to an end. Market capitalisation ended at 3,329.50 million cedis from 1,010.62 million issued shares, closing at 3.3 billion cedis on Friday. In the broader market, two equities saw price changes - one up, one down. Accra Brewery Limited (ABL) lost 100 cedis to finish trading at 650 cedis, while Unilever (UNIL) went up by 30 cedis to close at 1,750 cedis.

The following are the last prices of listed equities: ABL 650 -100 AGC 18,700 ALW 2,800 CFAO 56 EIC 2,010 FML 1,250 GBL 1,940 GCB 1,000 GGL 900 HFC 750 MGL 225 MLC 245 MOGL 16,000 PAF 348 PTC 400 PZ 850 SCB 24,000 SPPC 244 SSB 1,800 UNIL 1,750 +30 UTC-E 125