Bourse Opens Under Bearish Sentiments

ACCRA, Ghana (PANA) - The benchmark GSE-All Share Index opened the week lower by 0.58 points, pushed down by a 50-cedi loss by Ghana Breweries Limited as the bourse continued to be dominated by heavy bearish sentiments.

The index, which marked-time throughout last week, closed down at 819.83 points from the previous level of 820.41 points.

Total market capitalisation fell from 3,571.31 billion cedis to 3,570.2 billion cedis while the change for the year to date was equally lower at 11.36 percent.

Generally, the market was poor with offers exceeding bids by huge margins, indicating the absence of institutional investors from activities on the bourse.

On the broader market, there was only one price change. GBL lost 50 cedis to close at 1,350 cedis. Only four equities had positive pressure while the remaining 18 returned negative pressure.

Only four equities traded their shares, selling a total of 65,400. Ghana C ommercial Bank sold all the 46,700 shares it posted. SSB sold 17,200 shares as against the 20,500 bids.

Offers went up marginally from 1.7 million shares to two million. Bids, ho wever, closed down at 71,900 from 100,900. PANA MA/PBM/GA 14Aug2000