- Societe Generale Ghana Leads GSE Losers as MTN Drives Nearly Half of GH¢9.19 million Turnover
Trading on the Ghana Stock Exchange ended mixed on Friday, August 7, 2026, with investors exchanging 2.91 million shares valued at GH¢9.19 million as losses in Societe Generale Ghana and Intravenous Infusions offset gains in a handful of counters.
MTN Ghana dominated the session by value, accounting for GH¢4.34 million, or about 47.27% of the entire market turnover, from 620,559 shares. HORDS, meanwhile, emerged as the most actively traded stock by volume, with 758,523 shares changing hands for GH¢387,462.25.
The session showed a market that remained highly concentrated despite activity across several counters. MTN Ghana alone generated almost half of all value traded even though its share price was unchanged at GH¢7.00, indicating that the day’s liquidity was driven more by the size of transactions than by price movement.
Kasapreko followed among the most actively traded stocks by value, recording 472,004 shares worth GH¢945,868.95 at an unchanged closing price of GH¢2.00. GCB Bank generated GH¢427,896.80 from 9,928 shares, while Ecobank Ghana recorded GH¢393,081.00 from 10,079 shares.
Price movements were more volatile among some smaller and mid-sized counters. Societe Generale Ghana recorded the sharpest fall, dropping 9.77% to GH¢6.00 from GH¢6.65 after 27,524 shares worth GH¢167,446.30 changed hands.
Intravenous Infusions followed with an 8.62% decline to GH¢0.53 from GH¢0.58, despite recording relatively strong turnover of 335,109 shares. Atlantic Lithium also came under pressure, falling 5.40% to GH¢5.43 from GH¢5.74, while 5,354 shares were traded.
The losses were partly offset by Dannex Ayrton Starwin, which emerged as the strongest gainer of the session. The pharmaceutical counter advanced 8.33% to GH¢0.52 from GH¢0.48, with 60,000 shares valued at GH¢31,200 changing hands.
Clydestone Ghana gained 2.95% to close at GH¢4.89, which also matched its year high, while SIC Insurance rose 2.57% to GH¢4.79 from GH¢4.67. Ecobank Transnational Incorporated added 2.31%, ending the session at GH¢1.77 after almost 200,000 shares were traded.
Several large counters finished unchanged. GCB Bank closed at GH¢43.10, Ecobank Ghana remained at GH¢39.00, GOIL held at GH¢7.93 and Standard Chartered Bank Ghana finished at GH¢70.00.
Benso Oil Palm Plantation also remained unchanged at GH¢79.99, recording 3,150 shares worth GH¢251,968.50. Fan Milk finished flat at GH¢13.30, while Unilever Ghana closed unchanged at GH¢29.50.
TotalEnergies Marketing Ghana slipped marginally by 0.28% to GH¢39.83 from GH¢39.94, while Guinness Ghana Breweries declined 0.17% to GH¢11.88. Access Bank Ghana eased 0.03% to GH¢31.89.
The sharp concentration of activity around a small number of stocks was particularly evident in the volume figures. HORDS accounted for about 26.11% of all shares traded, followed by MTN Ghana with 21.36%, Kasapreko with 16.25%, Intravenous Infusions with 11.53% and CAL Bank with 8.40%.
Those five counters together represented more than four-fifths of total shares traded, showing that while the exchange listed activity across a broad range of companies, liquidity remained heavily concentrated.
HORDS itself closed unchanged at GH¢0.55 despite leading the market in volume. The stock has attracted considerable attention in recent sessions following a strong upward move earlier in the year, but Friday’s session suggested investors were willing to trade substantial quantities without pushing the closing price higher.
Intravenous Infusions presented the opposite picture. Its relatively large trading volume came alongside a sizeable price decline, indicating a session in which liquidity was accompanied by downward repricing rather than accumulation at progressively higher levels.
MTN Ghana’s dominance by value remains particularly important for understanding the structure of daily GSE activity. With GH¢4.34 million traded in a market worth GH¢9.19 million, movements in investor interest around the telecommunications company can materially alter headline turnover even when the stock price itself does not change.
The session also highlighted the difference between liquidity and price performance. A stock can attract significant turnover without appreciating, while thinly traded counters can sometimes record much larger percentage movements on considerably smaller values.
That distinction becomes increasingly relevant after the strong rally recorded by Ghanaian equities in 2026. Investors are now confronting a market where several stocks have already appreciated substantially, making valuation, liquidity and company fundamentals more important in determining whether recent gains can be sustained.
Friday’s trading therefore offered a mixed picture. The market recorded respectable turnover of GH¢9.19 million, but only four counters advanced while six declined and most others closed unchanged.
The stronger signal came from where investors placed their money. Almost half of the day’s value went into MTN Ghana, while HORDS dominated share volume and stocks such as Societe Generale Ghana and Intravenous Infusions experienced significant downward adjustments.
As the market moves deeper into August, that concentration could become an important indicator of investor positioning. The question will be whether activity broadens across more counters or remains centred on a small group of highly traded stocks while investors become increasingly selective after the exceptional gains recorded earlier in the year.
