MTN Drags GSE-CI Lower as Market Sheds GHS 1.66 Billion in Capitalisation
Ghana’s equity market lost ground on Tuesday, weighed down by losses in MTN Ghana (MTNGH), which reversed recent gains and pulled down the benchmark index.
The GSE Composite Index fell by 128.52 points to close at 6,215.71 points, trimming its Year-to-Date (YTD) return to 27.15%. The Financial Stock Index (GSE-FSI) also edged down by 1.22 points to 3,190.92 points, recording a YTD return of 34.03%.
Market capitalisation declined by GHS 1.66 billion to settle at GHS 137.49 billion, while market turnover jumped sharply to GHS 4.63 million—more than triple the previous session’s GHS 1.25 million. However, volumes traded dropped by 20.93% to 336,108 shares.
MTNGH was the most actively traded stock, accounting for 259,077 shares valued at GHS 793,200.71. The telecoms giant closed 3.77% lower at GHS 3.06, erasing earlier gains and contributing significantly to the market’s dip. Other heavily traded counters included ETI, CAL, GLD, and UNIL.
BOPP emerged as the day’s sole gainer, up 1.12% to GHS 31.12, bringing its YTD return to 23.20%. In contrast, CAL Bank and GLD slipped 1.69% and 5.81% respectively. GLD’s GHS 20.89 decline marked the steepest fall of the session, closing at GHS 338.83.
The broader market weakness comes amid caution among investors ahead of dividend declarations. UNIL, BOPP, and GOIL are among firms set to pay final dividends between June and September, offering modest yields that could attract investors in the coming weeks.
