Market records marginal gains

Accra (Greater Accra), 19th July 99 ?

The market index on Friday firmed up by gaining 4.49 points compared to 5.94 points loss recorded earlier in the week but on low volume.

The Ghana Stock Exchange (GSE) All-Share Index, closed the week at 788.32 up from Wednesday's 783.83 with the change in the year to date climbing up from negative 9.73 per cent to negative 9.22 per cent.

Market indicators recorded higher gains as offers closed the week at 2.6 million compared to the previous 1.9 million shares.

Total shares traded almost matched bids finishing up from 53,100 shares to 481,000 shares while bids closed at 574,100 up from 317,200 shares.

Market capitalisation finished the week higher at 3,280.44 billion cedis as against 3,273.38 billion cedis.

On the broader market, there were seven price changes - six gains and a loss.

Unilever Ghana Limited (UNIL) gained 60 cedis to close the week at 1,780 cedis with Aluworks Company Limited (ALW) and the SSB Bank recording price yields of 45 cedis and 31 cedis at 2,600 cedis and 1,981 cedis respectively.

Pioneer Aluminium Factory (PAF) finished the week higher by 10 cedis at 290 cedis.

Ghana Commercial Bank (GCB) and Guinness Ghana Limited (GGL) earned five cedis and one cedi to close at 1,000 cedis and 921 cedis respectively.

Ghana Breweries Limited (GBL), the only loser, was down by 29 cedis to finish trading at 1,850 cedis.

In spite of the gains, some brokers said most of the equities are selling below their value and expressed the hope that the continuous decline of interest rates on treasury bills would encourage more investors to come to the capital market.

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

ABL 600

AGC 18,700

ALW 2,600 +45

BAT 380

CFAO 40

EIC 1,990

FML 1,250

GBL 1,850 -29

GCB 1,000 +5

GGL 921 +1

HFC 750

MGL 220

MLC 200

MOGL 16,500

PAF 290 +10

PZ 850

SCB 20,000

SPPC 210

SSB 1,981 +31

UNIL 1,780 +60

UTC-E 125