Equities Retreat as MTN Drags Composite Index Lower
Ghana’s equities market eased last week, with the benchmark GSE Composite Index slipping 0.22 per cent to close at 7,330.37 points, trimming year-to-date gains to 49.95 per cent.
Market capitalisation fell to GH¢149.6bn as trading volumes slumped sharply compared with the previous week.
The GSE Financial Stock Index edged 0.07 per cent higher to 3,411.96 points, supported by gains in GCB Bank, Ecobank Ghana and Standard Chartered, while losses in MTN Ghana weighed on the broader market.
MTN, which accounted for more than three-quarters of total value traded, fell 0.02 to GH¢3.87.
Turnover amounted to GH¢15.5m from 2.16m shares, down from GH¢47.4m on 13.1m shares the prior week. Gold-backed GLD topped the gainers, climbing GH¢16.70 to GH¢396.70, while GCB rose 0.16 to GH¢10.01, extending its year-to-date return to 57 per cent.
Despite the slip in the composite index, Ghana’s market remains among Africa’s top performers in 2025, outpacing Nigeria’s NGSE ASI, which has gained 36 per cent year-to-date, and Kenya’s NSE, up almost 40 per cent.
On the currency market, the cedi weakened further against major trading currencies. The dollar closed the week at GH¢11.40, up from GH¢10.90 previously. The euro and pound also advanced, trading at GH¢13.34 and GH¢15.40 respectively.
Commodities presented a mixed picture as Brent crude slipped to $68.16 per barrel, extending its 2025 decline to 8.85 per cent. Gold prices climbed to $3,441.67 per ounce, up more than 31 per cent this year, while cocoa fell to $7,370.25 per metric tonne, down 32 per cent year-to-date.
