The Ghana Stock Exchange (GSE) on Monday, November 9, 2020 recorded one gainer and two decliners out of the 14 Over-The-Counter (OTC) stocks traded.
New Gold (GLD), an exchange traded fund, emerged as the only gainer on the local bourse increasing by Ghs 1.40 pesewas to Ghs 109.90 pesewas.
The two decliners were Ecobank Ghana (EGH) which lost 74 pesewas and fell to Ghs 4.96 and Societe-General (SOGEGH) which also lost 0.01 pesewas and moved down to 0.64 pesewas.
Cal Bank (CAL) also recorded a loss in its share price and fell to Ghs 0.70 pesewas.
The recorded price changes in the two counters resulted in the lowering of the GSE-Composite Index (GSE-CI), increasing its year to date loss to 19.64 per cent.
With a decline in shares and performance of EGH and CAL, based on the bids and offers dynamics on the GSE, norvanreports expects share prices of the two counters to close lower this week.
Excess supply of the two counters is also tipped to suppress the GSE-CI for this week.