Market Makes Strong Rally

Accra, (Greater Accra) 12 Nov.,

Equities staged a strong rally today recouping Monday's losses in which Ashanti Goldfield Company (AGC) made a sharp fall. The GSE All-Share Index rose 0.97 points to finish mid-week trading at 495.82 points, up from 494.85 points. Total shares traded on the floor rose to 84,380 from the 37,940 sold on Monday. Total bids climbed today to 4,791,640 compared with offers of 266,580. Share bids were high in Pioneer Tobacco Company (PTC), Social Security Bank (SSB), Kumasi Brewery Limited (KBL), Standard Chartered Bank (SCB) and CFAO. However, it was Aluworks (ALW), Ghana Commercial Bank (GCB) and SSB which sold the most shares. Corporate and institutional investors who stormed the market last month to make their purchases have relaxed. a trend a dealer described as normal for this time of the year when most investors hold on to their money for the Christmas. Market Capitalisation was 2,895.00 billion cedis compared to the previous 2,893.57 billion cedis. It closed on Friday at 2,920.57 billion cedis. On the broader market, there were five price changes, four up and one down. Mobil Oil Ghana Limited (MOGL) continued its steady rise gaining 300 cedis to close at 8,000 cedis. Home Finance Company (HFC) and SSB which made two cedis each to end at 202 cedis and 1,694 cedis respectively. Enterprise Insurance Company (EIC) was three cedis richer at 718 cedis. The only loser was Metalloplastica Ghana Limited (MGL) was dropped five cedis to close at 170 cedis. The following are the last prices of listed equities quoted in cedis:

ABL 720 AGC 20,500 ALW 2,550 CFAO 40 EIC 718 +3 FML 525 GCB 720 GGL 648 HFC 202 +2 KBL 965 MGL 170 -5 MLC 195 MOGL 8,000 +300 PAF 170 PTC 390 PZ 330 SCB 7,410 SPPC 145 SSB 1,694 +2 UNIL 940 UTC-E 105