Accra Bourse Gains Under Bearish Sentiments

The Ghana Stock Market had a mid-week breather Wednesday, when a five-cedi gain by Social Security Bank pushed the GSE-All share Index up by 0.19 points, but the market was still dominated by bearish sentiments.

The index, which lost 0.58 points Monday, closed firmer at 820.02 points, up from the previous close of 819.83 points.

The market capitalisation and the change for the year to date were equally stronger at 3,570.58 billion cedis and 11.39 percent respectively.

There was only one price change. Social Security Bank gained five cedis to close at 1,995 cedis. Despite the gains, however, as many as 12 equities returned negative pressure while eight others had no pressure at all.

Out of the 23 listed equities, 16 had no bids nor did they make any sales.

The remaining seven that made sales could manage a mere 33,800 compared to 65,400 shares Monday. Accra Brewery Limited, Camelot, Enterprise Insurance Company Super Paper Products Company had neither offers nor bids.

Offers fell from 2.02 million shares to 1.5 million shares. Bids closed at 34,900, down from 71,900 shares at the previous session.