Market index makes slight gain under negative pressure

Accra (Greater Accra), 5th July 99 ?

The Ghana Stock Exchange (GSE) All-Share Index on Friday managed a 0.48 points gain, despite negative pressure on some of the equities.

The All-Share Index thus maintained its upward stance as a result of a 40-cedi gain in the share price of the SSB Bank (SSB).

The index gained 10.36 points and 7.59 points on Monday and Wednesday respectively, after weeks of continuous decline due to drops in prices of major equities.

The change in the year to date was negative 7.11 per cent.

Market volumes, however, declined by huge margins with the total shares traded closing the week at 24,000, down from Wednesday's 260,200 Shares on demand finished at 256,800, compared to the previous demand of 750,900.

Offers closed the week at 2.7 million shares, down from three million shares. Market capitalisation was up from 3,308.52 billion cedis to 3,309.19 billion cedis.

In the broader market, there were six price changes - one up and five down.

SSB gained 40 cedis at 1,950 cedis. Aluworks Company Limited (ALW) lost 100 cedis to close the day 2,600 cedis, while CFAO and Super Paper Products Company (SPPC) lost five cedis and 20 cedis to finish trading at 40 cedis and 210 cedis respectively.

Metaloplastica Ghana Limited (MLG) lost five cedis at 220, and Ghana Breweries Limited (GBL) finished trading at 1,879 cedis, losing by one cedi.

The following are the last prices of listed equities in cedis:

ABL 600

AGC 18,700

ALW 2,600 -100

BAT 380

CFAO 40 -45

EIC 1,990

FML 1,250

GBL 1,879 -1

GCB 1,000

GGL 925

HFC 750

MGL 220 -5

MLC 200

MOGL 16,800

PAF 295

PZ 850

SCB 22,000

SPPC 210 -20

SSB 1,950 +40

UNIL 1,730

UTC-E 125