Bourse stable, banks active

02:12 p.m Apr 26, 1999 Eastern

ACCRA, April 26 (Reuters) - The Ghana Stock Exchange ended flat on Monday, with only eight active shares out of the 21 listed, the bourse report showed.

The all-share index was unchanged at its year low of 820.63 and is now down 5.5 percent on the year to date.

There were no price changes on Monday.

Trade in banking sector shares represented 63 percent of overall volume, which totalled 1.3 billion cedis ($538,000) for 103,000 shares traded.

Standard Chartered Bank (SCB.GH), the bourse's most expensive share and Monday's most active, closed unchanged at 24,000 cedis for 50,000 shares traded.

Ghana Commercial Bank (GCB.GH) and Standard Chartered Bank (SCB.GH) were stable with 1,100 and 13,900 shares traded respectively.

Broker Databank Research noted in its weekly report that the previous week's reduction of the country's re-discount rate from 32 percent to 27 percent ``failed to inject a fresh wave of interest in the Ghana stock market as market indices continue to trend downwards.'' ($-2,415 cedis)