CLYD Leads Weekly Gainers with 200% YTD Return as SIC Tumbles Despite Strong YTD Performance
Ghana’s benchmark equities gauge, the GSE Composite Index (GSE-CI), slipped 0.59% in the week ending July 18, 2025, shedding 38.1 points to close at 6,386.76 points. The decline marks a reversal from the 1.22% gain recorded in the previous week, underscoring a fragile sentiment across the local bourse despite surging trading activity.
The GSE Financial Stock Index (GSE-FSI) also posted a modest weekly decline of 0.33% to settle at 3,417.71 points. Nonetheless, both indices continue to post strong year-to-date (YTD) returns of 30.65% and 43.55% respectively, supported by broad-based recovery in banking and telecom counters over the first half of the year.
Total market capitalisation dipped to GH¢138.6 billion from GH¢139.6 billion, even as weekly trading volumes surged by 171.16% to 9.75 million shares. Corresponding trade turnover rose sharply by 143.11% to GH¢38.3 million, buoyed by block trades in MTN Ghana (MTNGH), GCB Bank and Ecobank Transnational Incorporated (ETI).
CLYD Steals Spotlight with 200% YTD Return
In a week marked by mixed performance, Clydestone Ghana Limited (CLYD) emerged as the market’s star performer, registering a 200% YTD return following a 0.04 pesewa uptick to close at GH¢0.09. Other top gainers included New Gold (GLD), which added GH¢3.62 to end the week at GH¢364.60; Standard Chartered Bank (SCB), which advanced GH¢3.00 to GH¢28.00; and Republic Bank Ghana (RBGH), which appreciated by GH¢1.44 to GH¢0.90.
Conversely, SIC Insurance suffered the steepest decline, shedding GH¢0.43 to close at GH¢1.13, despite boasting an impressive YTD return of 318.52%. UNIL, MTNGH, and ETI also posted marginal weekly losses.
MTNGH Dominates Trade Activity
MTN Ghana continued to assert its dominance in market liquidity, accounting for the bulk of trades with over 7.9 million shares exchanged, valued at GH¢23.6 million. GCB Bank followed with 1.09 million shares worth GH¢10.3 million, while ETI, SIC, and CAL completed the top five most actively traded equities.
Outlook
Despite recent volatility, the Ghanaian stock market remains one of Africa’s top performers this year, outperforming peers such as Botswana (3.77%), Egypt (13.72%) and Nigeria (27.84%). Analysts remain optimistic that selected banking and telecom stocks could drive further upside in H2, though macroeconomic headwinds and cedi volatility remain key risks.
