GSE all share index goes further down

Accra (Greater Accra) 8th July '99

A huge loss by Standard Chartered Bank (SCB) and a general downward pressure on some major equities on Wednesday pushed the Ghana Stock Exchange (GSE) All-Share further down from 806.44 to 796.58.

The market index lost by 10.86 points and brokers attributed this to a continuous decline in prices as investors are willing to sell at any price.

Despite the bearish atmosphere surrounding the market, total shares traded was up from 30,910 shares to 40,900 shares but this was nothing compared to the high offers of 2.8 million shares displayed on the exchange.

Bids closed trading higher at 324,700 shares up from Monday's 263,710 shares.

Market capitalisation finished lower at 3,291.86 billion cedis down from 3,308.94 billion cedis.

On the broader market, five equities made losses but there was no gain.

SCB lost a whopping 1,000 cedis at 21,000 cedis. It opened the year at 25,000 cedis but, however, remains the highest priced equity.

Unilever Ghana Limited (UNIL) and Guinness Ghana Limited (GGL) lost five cedis each to close at 1,725 cedis and 920 cedis respectively.

Ghana Commercial Bank (GCB) closed trading at 998 cedis incurring a loss of two cedis with Aluminium Company Limited (ALW) losing a cedi to finish trading at 2,599 cedis.

The following are the last prices of listed equities in cedis:

ABL 600

AGC 18,700

ALW 2,599 -1

BAT 380

CFAO 40

EIC 1,990

FML 1,250

GBL 1,879

GCB 998 -2

GGL 920 -5

HFC 750

MGL 220

MLC 200

MOGL 16,800

PAF 280

PZ 850

SCB 21,000 -1,000

SPPC 210

SSB 1,950

UNIL 1,725 -5

UTC-E 125