- GSE Composite Index Falls 72.35 Points as MTN Ghana, SIC and IIL Decline
The Ghana Stock Exchange opened August on a weaker footing as selling pressure across selected equities pushed the broader market lower, while the value of shares traded fell 32.85% to GH¢5.04 million from GH¢7.50 million in the previous session.
A total of 1.43 million shares changed hands during the 7,266th trading session on Monday, August 3, down 45.29% from the 2.62 million shares traded on July 31, indicating a significant reduction in overall market activity alongside the decline in prices.
The GSE Composite Index fell by 72.35 points as profit-taking in some of the market’s more actively traded counters outweighed gains elsewhere, reducing its year-to-date return to 75.17%.
The GSE Financial Stocks Index also retreated, losing 34.39 points and trimming its year-to-date gain to 76.53%, as weakness in SIC Insurance and Ecobank Transnational Incorporated placed pressure on the financial segment.
MTN Ghana dominated trading despite ending the session lower.
The telecommunications company recorded 377,742 shares valued at GH¢2.68 million, accounting for approximately 53.14% of total market turnover. MTN Ghana closed at GH¢7.09, down GH¢0.05 from GH¢7.14, representing a 0.70% decline.
The stock remains close to its 2026 high of GH¢7.15, suggesting that Monday’s decline reflected some selling pressure after a strong run rather than a significant reversal in its longer-term performance.
Kasapreko Plc was the second-most actively traded equity by value, generating GH¢752,468.62 from 376,874 shares. The newly listed beverage producer closed unchanged at GH¢2.00, accounting for approximately 14.94% of total turnover.
Together, MTN Ghana and Kasapreko generated more than two-thirds of the entire value traded, underscoring the continued concentration of liquidity in a relatively small group of stocks.
Intravenous Infusions Plc recorded 322,821 shares worth GH¢252,606.52, making it one of the session’s more liquid counters, but the pharmaceutical manufacturer extended its recent price weakness.
IIL declined 7.14% to GH¢0.78 from GH¢0.84, despite recently announcing a return to profitability for the first half of 2026. The company’s shares have traded between GH¢0.05 and GH¢0.93 this year, reflecting the sharp repricing that accompanied investor interest in its turnaround.
The steepest decline of the session came from SIC Insurance.
SIC dropped 9.76%, losing GH¢0.56 to close at GH¢5.18 from GH¢5.74. A total of 15,358 shares changed hands for GH¢83,755.00.
The decline represents a sizeable correction for a stock that has risen significantly from its 2026 low of GH¢1.20 and previously reached a year high of GH¢6.09.
ETI also ended lower, declining 1.55% from GH¢1.93 to GH¢1.90. The pan-African banking group recorded 121,875 shares valued at GH¢232,624.73.
The four decliners being SIC, IIL, ETI and MTN Ghana were sufficient to outweigh gains recorded by DASPHARMA, Cocoa Processing Company and HORDS.
Dannex Ayrton Starwin emerged as the session’s best-performing equity, gaining 9.09% from GH¢0.44 to GH¢0.48. The move also took the pharmaceutical company to a new 2026 high of GH¢0.48, although trading remained relatively thin at only 3,834 shares valued at GH¢1,840.32.
HORDS Plc followed with a 7.69% gain, rising from GH¢0.39 to GH¢0.42 on the Ghana Alternative Market. The closing price represented another new year high for the stock, which started from a 2026 low of GH¢0.09.
Cocoa Processing Company also advanced, gaining 5.88% to GH¢0.18 from GH¢0.17 after 17,820 shares changed hands. Like DASPHARMA and HORDS, CPC finished the session at its highest price of the year.
Despite those gains, the session’s liquidity remained concentrated in larger counters.
Ecobank Ghana recorded GH¢244,686.00 in turnover while remaining unchanged at GH¢39.00. GCB Bank traded GH¢141,004.80 and held at GH¢43.20, while GOIL generated GH¢104,658.08 without moving from GH¢7.96.
CAL Bank also saw relatively strong activity, with 127,339 shares worth GH¢100,630.83 changing hands, but closed unchanged at GH¢0.79.
Ordinary shares collectively generated GH¢4.76 million from 1.10 million shares, representing about 94.56% of total market turnover.
NewGold contributed GH¢18,957.99 from 41 units, while trading on the Ghana Alternative Market was driven overwhelmingly by Intravenous Infusions.
Monday’s session therefore reflected a combination of weaker liquidity and selective profit-taking following the strong equity-market gains recorded during 2026.
The decline in turnover from GH¢7.50 million to GH¢5.04 million was accompanied by selling in some of the market’s more influential counters, particularly MTN Ghana and financial stocks.
The broader picture nevertheless remains one of substantial year-to-date appreciation, with both principal GSE indices still showing returns above 75%.
For investors, the immediate question will be whether Monday’s decline marks the beginning of more sustained profit-taking or merely a pause in a market that has already delivered exceptional gains this year.
