All-Share Index Fails To Sustain Gains

Accra, Ghana (PANA) - The All-Share Index of the Accra bourse slipped Monday by 0.07 points after a dramatic surge of 93.39 points Friday to 863.97 points

The index, the main market indicator, which has been swinging between gains and losses, went the opposite way Monday after huge gains Friday by three equities led to the record rise for the year.

Last week's gain saw the index, which opened the year at 737.21 points, soaring to 864.04 points.

Bearish sentiments reflected in low trading volumes characterised activities on the market with only five out of the 22 listed equities recording a total volume of 54,300.

The bulk of the shares traded went to CFAO Limited, which lost two cedis after selling 39,200 shares out of 59,000 shares posted.

Ghana Commercial Bank sold 12,800 shares followed by Guinness Ghana Limited which sold 1,200 shares. The rest were Camelot Ghana Limited 1,000 and Pioneer Aluminium Factory 100. Shares traded on Friday were lower at 50,000.

Total shares posted were 2.2 million, but shares demanded declined from 148,500 to 108,400.

Market capitalisation went down to 3,396.55 billion cedis from 3,396.66 billion cedis.

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

Camelot Ghana Limited gained one cedi at 422 cedis while CFAO dropped two cedis 40 cedis to 38 cedis.