Shares plunge on GSE

Accra (Greater Accra), 25 Feb. '99 -

Huge losses made by two major equities, Mobil Ghana Limited (MOGL) and SSB Bank (SSB), on Wednesday plunged the total shares traded on the Ghana Stock Exchange (GSE) by more than half, compared to shares traded on Monday.

Thus, total shares traded closed at a mere 183,000, down from 1,062,700 traded on Monday, bringing the All-Share Index down by 12.75 points to end at 862.03 from the previous 874.78. Total shares offered were 3,022,970 as against Monday's 2,361,250 but bids finished lower at 1,282,600, compared with the previous 1,441,600. Market capitalisation also finished at 3,327.01 billion down from the 3,347.03 billion. On the broader market, there were five gainers and four losers.

Ghana Breweries Limited (GBL) made 150 cedis gain to close at 1,850 while Enterprise Insurance Company (EIC) and Unilever Limited gained 10 and nine cedis to finish at 2,010 and 1,730 cedis respectively. Metalloplastica Company made five cedis to finish at 250 cedis, with CFAO also making a cedi to close at 56 cedis.

MOGL and SSB lost 400 and 200 cedis to finish at 17,500 cedis and 2,000 cedis respectively while Ghana Commercial Bank (GCB) also lost 50 cedis to finish trading at 1,050 cedis. Super Paper Products Limited lost a cedi to close at 244 cedis. The following are the last prices of listed equities:

ABL 800 AGC 18,700 ALW 2,600 CFAO 56 +1 EIC 2,010 +10 FML 1,450 GBL 1,850 +150 GCB 1,050 -50 GGL 1,100 HFC 750 MGL 225 MLC 250 +5 MOGL 17,500 -400 PAF 400 PTC 405 PZ 850 SCB 24,000 SPPC 244 -1 SSB 2,000 -200 UNIL 1,730 +9 UTC-E 125