- GSE Composite Index Gains 0.68% as Market Value Rises to GH¢292.51bn
Trading activity on the Ghana Stock Exchange accelerated sharply during the week ended July 31, 2026, as the value of shares traded rose by 251.00% to GH¢168.92 million, driven overwhelmingly by transactions in MTN Ghana.
Weekly volume increased by 158.20% to 29.73 million shares from 11.51 million shares in the preceding week, while turnover climbed from GH¢48.12 million.
The surge in activity lifted the GSE Composite Index by 0.68% to 15,434.87 points. The GSE Financial Stocks Index, however, declined by 0.52% to 8,238.07 points, reflecting weaker price performance among some listed banks and financial companies.
Total market capitalisation increased marginally by 0.16% to GH¢292.51 billion from GH¢292.06 billion. The Composite Index and Financial Stocks Index remained up 75.99% and 77.27%, respectively, from the beginning of the year.
MTN Ghana was the most actively traded equity by a considerable margin, generating GH¢131.26 million from 18.58 million shares.
The telecommunications company accounted for approximately 77.70% of the total value and 62.50% of the volume traded during the week. The broader information and communications technology sector represented 77.79% of turnover, confirming that overall market activity was heavily concentrated in one stock and sector.
The sector-performance chart on page two shows finance ranking a distant second with GH¢24.68 million in turnover. Manufacturing generated GH¢5.02 million, while food and beverage stocks accounted for GH¢4.99 million.
Insurance, distribution, exchange-traded funds, mining and agriculture collectively represented only a small share of total activity.
GCB Bank ranked as the second-largest equity by value traded at GH¢20.25 million, followed by Intravenous Infusions Limited at GH¢4.98 million, Kasapreko at GH¢4.68 million and Ecobank Ghana at GH¢1.71 million.
By volume, Intravenous Infusions followed MTN Ghana with 5.66 million shares. Kasapreko recorded 2.33 million shares, CAL Bank generated 1.25 million shares and Ecobank Transnational Incorporated accounted for 597,544 shares.
The strong headline turnover therefore masks a market in which liquidity remained highly concentrated. MTN Ghana and GCB together accounted for almost 90.00% of the value traded among all listed equities during the week.
Wednesday, July 29, was the busiest trading session, generating GH¢121.57 million from 18.39 million shares. That single session accounted for approximately 71.97% of the week’s total turnover.
Daily turnover subsequently declined to GH¢24.66 million on Thursday and GH¢7.50 million on Friday, according to the trading chart on page three. Market capitalisation peaked at GH¢293.18 billion on Thursday before ending the week at GH¢292.51 billion.
HORDS led the week’s price gainers, advancing by 50.00% from GH¢0.26 to GH¢0.39. Its year-to-date return reached 290.00%.
Intravenous Infusions climbed by 27.27% to GH¢0.84 and remained the market’s strongest performer for the year, with a reported gain of 1,580.00%.
Cocoa Processing Company gained 6.25%, Clydestone Ghana rose 5.56%, and MTN Ghana advanced by 2.00% to GH¢7.14. Ecobank Ghana added 1.77% to close at GH¢39.00.
Atlantic Lithium was the week’s largest decliner, falling by 9.00% to GH¢6.37. SIC Insurance lost 4.33%, Societe Generale Ghana declined 2.86%, Republic Bank Ghana fell 2.78%, and Ecobank Transnational Incorporated shed 2.03%.
Other losses were recorded by CAL Bank, Kasapreko, Guinness Ghana and TotalEnergies Ghana. The average price movement among the stocks that changed value was a gain of 4.64%.
The week’s performance points to sustained investor interest in Ghanaian equities, with the Composite Index continuing its strong 2026 advance.
However, the decline in the Financial Stocks Index and the concentration of turnover in MTN Ghana suggest that the broader market remains uneven. A more durable expansion in liquidity will require increased trading across banking, manufacturing, consumer and other non-telecommunications equities rather than dependence on a small number of large transactions.
