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09.10.2002 Business & Finance

Investors continue to shy off Ghana Stock Exchange

By Network herald
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Nearly all market indicators at the Ghana Stock Exchange (GSE) recorded significant gains Monday, but big investors were still keeping their distance at trading opened for the week.

The All-Shares Index gained 16.29 points on the back of high gains in the share prices of Ghana Commercial Bank (GCB) and Standard Chartered Bank (SCB), which are the second and third most heavily capitalised equities respectively.

The market gauge, the All-Share Index thus opened the week up at 1,331.69 points from 1,315.40 points. The change in the year to date went up to 39.31 per cent from 37.60 per cent.

Total number of shares that changed hands was still low, rising from only 10,400 to 43,100. Market capitalisation closed the day's trading higher at 4,902.23 billion cedis from 4,870.57 billion cedis.

On the broader market, there were five price changes, including four gains and one loss. SCB gained the highest of 977 cedis to close trading at 27,000, while GCB recorded a gain of 104 cedis to finish at 3,500 cedis. Unilever Ghana Limited (UNIL) made two cedis while the SSB Bank gained a cedi to close at 4,265 cedis and 3,951 cedis respectively. Ghana Breweries Limited (GBL) lost 100 cedis to finish trading down at 800 cedis.

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