Ghana Stock Exchange shares drop

The Ghana Stock Exchange’s (GSE) volume traded hit 142,778 shares which were valued at GH¢727,981.53 on August 29, but dropped to 88,893 shares, which were valued at GH¢377,168.06 on August 30.

Trading however opened on August 29 with transactions in 14 equities with six price changes; in effect the benchmark Composite Index rose by 0.3 per cent to close at 1,814.3 points while trading ended on August 30 with transactions in eleven equities with 2 price changes, as the indices moved in different directions.

In effect the benchmark Composite Index fell by 0.02 per cent to close at 1,814 points, stock market analysis paper made available to the Ghana News Agency in Accra on Wednesday said.

Nordea Capital is an investment bank licensed by the Securities and Exchange Commission, which 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 went up by 0.7 per cent to close at 1,725.3 points on August 29, however on August 30 it rose by 0.04 per cent to close at 1,726.1 points.

According to the analysis on August 29, Ecobank Transnational Incorporated edged 6.7 per cent to close at GH¢0.16 per share, while HFC gained 4.2 per cent to close at GH¢0.75 per share. On August 30, Ecobank Ghana emerged as the only gainer for the session as the stock inched by 0.1 per cent to close at GH¢6.88 per share.

According to the Nordea Capital analysis, SIC Insurance led the laggards on August 29 as it shed 5.9 per cent to close at GH¢0.16 per share, followed by GOIL, which lost 2.3 per cent to close at GH¢1.30 per share.

Tullow Oil also dipped by 0.5 per cent to close at GH¢27.50 per share, which is classified as the lowest price since IPO, while GCB Bank slipped 0.2 per cent to close at GH¢4.00 per share.

However on August 30, aluminum manufacturer, Aluworks plunged by 14.3 per cent to close at GH¢0.12 per share.

Source: GNA