GSE Benchmark Index Dips as MTN Ghana Leads Laggards
The Ghana Stock Exchange commenced the new trading week on a bearish note, with the benchmark GSE Composite Index (GSE-CI) falling by 112.65 points to close at 6,037.66 points.
This represents a 1.83% daily decline, trimming the index’s year-to-date return to 23.51%.
Market capitalisation also dipped by GHS 1.73 million to settle at GHS 134.82 billion, underscoring weak investor sentiment despite marginally higher trading activity.
The Financial Stock Index (GSE-FSI), however, eked out modest gains, adding 5.55 points to end the session at 3,222.69 points—translating into a robust 35.36% return since the start of the year.
MTN Ghana drags market lower
The sell-off was largely driven by declines in heavyweight telecoms stock MTN Ghana, which lost 11 pesewas to close at GH¢2.87. The stock dominated trading activity, accounting for 358,519 shares valued at GHS1.03 million—nearly 70% of total market turnover.
Ecobank Transnational Incorporated (ETI) also posted a 2 pesewa loss, ending the day at GH¢0.87. The two stocks were the session’s only decliners, but their impact was enough to pull the composite index significantly lower.
Gainers provide little lift
Access Bank Ghana led the gainers’ chart, surging GH¢1.07 to close at GH¢12.20—a move that brings its year-to-date rally to an eye-catching 134.62%. GCB Bank and TotalEnergies Marketing Ghana also posted modest gains of 5 and 8 pesewas, closing at GH¢8.08 and GH¢25.00 respectively.
Still, these gains proved insufficient to offset the broader market slump, particularly given MTN Ghana’s heavy weighting on the index.
Trading activity picks up
Trading volumes rose marginally by 0.68% to 419,718 shares, while turnover jumped 43.24% to GHS1.49 million, driven largely by institutional trades in MTNGH. Other active counters included Enterprise Group Limited (EGL), TotalEnergies, ETI, and CAL Bank.
Dividend season continues
Investors also have dividends in sight, with several companies scheduled to make final payouts in the coming weeks. Unilever Ghana will pay GHS0.60 per share on June 23, while BOPP, Fan Milk, Clydestone Ghana, Ecobank Ghana, and GOIL are all set to pay dividends ranging from GHS0.032 to GHS0.9085 by mid-September.
