Market index plunges again

Accra, (Greater Accra) 11 March '99,

Trading on the Ghana Stock Exchange (GSE) finished midweek trading in a bearish mood that saw the All- Share Index plunging again after a slight increase at the beginning of the week. The market index slipped by 3.5 points to finish at 833.82 on Wednesday down from Monday's 837.32. Change in the year stood at minus 3.98 per cent. Market capitalisation, however, managed to close trading higher at 3,272.20 billion cedis from 3,267.13 billion cedis on the strength of two major equities, Accra Brewery Limited (ABL) and Ashanti Goldfields Company (AGC). Investors showed an inclination of off-loading their shares as offers shot up by almost a million from 2,330,090 posted on Monday to 3,240,230, but total shares traded went up slightly to 51,800 from the previous 41,460. Bids stood at 493,090 up from Monday's 479,960. In the broader market, two equities made gains while two others made losses. ABL and AGC gained 150 cedis and 100 cedis to finish trading at 750 cedis and 18,600 cedis respectively. Guinness Ghana Limited (GGL) lost 90 cedis to close at 900 cedis with SSB Bank losing 39 cedis to finish trading at 1,860 cedis.

The following are the last prices of listed equities: ABL 750 +150 AGC 18,600 +100 ALW 2,800 CFAO 56 EIC 2,010 FML 1,448 GBL 1,900 GCB 980 GGL 900 -90 HFC 750 MGL 225 MLC 245 MOGL 16,700 PAF 350 PTC 400 PZ 850 SCB 24,000 SPPC 244 SSB 1,860 -39 UNIL 1,800 UTC-E 125