Equities Rally as GSE-CI Posts 4.5% Gain; Market Turnover Surges 265%
Ghana’s equity market extended its upward momentum during the trading week ending July 25, 2025, as the benchmark Ghana Stock Exchange Composite Index (GSE-CI) surged by 4.48% to close at 6,673.11 points. This marks a significant reversal from the previous week’s 0.59% decline, bringing the year-to-date (YTD) return to a robust 36.51%.
The gains were largely underpinned by bullish sentiment in large-cap stocks such as MTN Ghana (MTNGH), Fan Milk Limited (FML), and GLD, with MTNGH alone accounting for the lion’s share of weekly trade volume and value. The telecom giant traded 30.7 million shares valued at GH¢98.8 million, topping the activity charts. GLD and FML also posted strong weekly gains of 3.62% and 1.44% respectively.
Conversely, the financial sector struggled to maintain its footing. The GSE Financial Stock Index (GSE-FSI) edged down 0.16% to 3,412.29 points, trimming its YTD gain to 43.33%. SOGEGH led the decliners with a 9 pesewa drop to GH¢1.97, while CAL Bank (CAL) shed 2 pesewas to GH¢0.53.
Total market capitalisation rose to GH¢142.2 billion, even as trading activity spiked sharply. Volumes traded jumped by 264.37% to 35.5 million shares, while total turnover increased by 265.44% to GH¢140 million—driven predominantly by transactions in MTNGH and GCB Bank.
Against a basket of African peers, Ghana’s GSE-CI remains among the top-performing indices year-to-date, outpacing bourses in Nigeria (+30.63%), Kenya (+30.00%), and South Africa (+17.63%).
Despite subdued performance in financial stocks, sentiment remains largely upbeat, with investors continuing to rotate into value and dividend-paying counters amid expectations of improved corporate earnings in the second half of the year.
