Stock market index posts big gain

The Ghana Stock Exchange (GSE) posted an impressive performance on Monday, propelled by healthy gains by four equities led by the highest-priced equity on the bourse, Standard Chartered Bank (SCB).

Sixteen equities made sales, although total volumes that changed hands came down to 178,400 from Friday's close of 324,000 as institutional players continued to stay away.

The GSE All-Share Index, the main market index, went up by 28.88 points to 2,014.336 points with change for the year jumping up to 44.35 per cent from Friday's 42.48 per cent.

On the broader market, there eight price changes, all positive.

SCB climbed by 2,400 cedis to 40,000 cedis followed by Mobil Oil Ghana Limited (MOGL), which gained 996 cedis at 21,000 cedis while Enterprise Insurance Company continued its sterling performance with a 300-cedi rise to 6,000 cedis.

Guinness Ghana Limited (GGL) was 100 cedis richer at 2,726 cedis, Fan Mlik Limited was 45 cedis better at 2,600 cedis, Produce Buying Company rose by 20 cedis at 400 cedis, Unilever (UNIL) inched up by one cedi at 7,201 and Ghana Commercial Bank (GCB)was also one cedi better at 6,060 cedis.

Market capitalisation was better at 8,417.41 billion cedis from 8,348.07 billion cedis from on Friday.