Financial Stocks Lead Gains as Trade Volume Surges by 215%
The Ghana Stock Exchange (GSE) witnessed notable gains in financial stocks on Monday, with Ecobank Transnational Incorporated (ETI) leading the gainers with a GHS 0.05 increase. CAL Bank (CAL) and GCB Bank (GCB) followed with price gains of GHS 0.04 and GHS 0.01, respectively.
The GSE Financial Stock Index surged by 47.72 points to close at 2,760.65 points, raising its year-to-date (YTD) return to 15.96%. Similarly, the GSE Composite Index (GSE-CI) climbed by 33.99 points to settle at 5,598.46 points, bringing its YTD return to 14.52%.
Overall, the GSE market capitalization rose to GHS 126.30 billion, reflecting a GHS 1.24 million increase from the previous trading session.
Trading activity also saw a sharp increase, with total volume traded soaring by 215% to 1,036,793 shares, generating a total market turnover of GHS 45.70 million.
Among the top five traded equities, MTN Ghana (MTNGH) dominated the session, exchanging 863,605 shares. Other actively traded stocks included GLD, CAL, ETI, and GOIL, in that order.
The continued bullish performance of financial stocks and increased trading activity signal growing investor confidence in the local equities market.
