Accra bourse index falls under dull market

The GSE All-share index of the Accra bourse opened the week at 861.98 points on Monday, down by 0.43 points from Friday's close. The index, which had made gains since the beginning of the year, was pushed down by a-10 cedi loss by Accra Brewery Limited (ABL), although a five cedi gain by Enterprise Insurance Company (EIC) moderated the loss.

Traded volumes dropped to a low of 4,200 shares compared to 22,500 shares at the previous session due to heavy bearish sentiments. Only seven equities out of the 22 sold shares. Eight equities return negative pressures while five others had no pressure at all.

Offers shot up at 743,920 shares as against 186,070 on Friday. Demand was pegged at 8,600 shares, down from 40,900 at the previous session. Market capitalisation declined marginally at 3,662.62 from 3,663.43 billion cedis on Friday.

In the broader market, there were two price changes -one positive, the other negative. EIC gained five cedis to close at 2,870 cedis. ABL lost 10 cedis at 620 cedis.