Ghana Stock Exchange composite index drops

Trading on the Ghana Stock Exchange (GSE) on the third week of August bourse ended with transactions in 14 equities, with eight prices changes in an advance to decline ratio of 1:7.

The benchmark GSE – Composite Index dropped by 0.4 per cent to close at 1,824.4 points, stock market analysis made available to the Ghana News Agency in Accra on Friday by Nordea Capital, an investment bank, has stated.

Nordea Capital is licensed by the Securities and Exchange Commission and offers a comprehensive range of services in asset management, research and strategy, corporate finance and private equity to institutional, corporate and private clients.

The GSE Financial Stock Index also fell by 0.2 per cent to close at 1,733.7 points. Fan Milk Limited experienced a block trade with no price change, while Ecobank Ghana emerged as the only gainer for the session as the stock edged by 1.8 per cent to close at GH¢6.87 per share.

The laggards were led by State Insurance Company, which backtracked by 11.8 per cent to close at GH¢0.15 per share, followed by Total Ghana Limited, which lost 6.0 per cent to close at GH¢3.00 per share.

Ecobank Transnational Incorporated shed 5.6 per cent to close at GH¢0.17 per share, while PZ Cussons declined 4.8 per cent to close at GH¢0.20 per share.

The rest were Ghana Oil Company Limited, 1.5 per cent, CAL -1.1 per cent and Enterprise Group Limited, 0.4 per cent.

The volume traded was 700,414 shares which were valued at GH¢2,827,877.16 and 117.4 per cent compared to the previous session.

Source: GNA