- GSE Closes Week with Mixed Trading as EGL Jumps 8.77% And ETI, GOIL Retreat
Trading activity on the Ghana Stock Exchange ended the week on a relatively subdued note on Friday, August 28, 2026, with investors exchanging 1.25 million shares valued at GH¢6.32 million as market activity remained heavily concentrated in MTN Ghana.
The official list for Trading Session 7285 showed that ordinary shares accounted for 1.04 million shares valued at GH¢6.16 million, while activity on the Ghana Alternative Market and the exchange-traded fund segment added relatively modest amounts to overall turnover.
MTN Ghana remained the dominant stock by value, recording 477,374 shares worth GH¢3.30 million. The telecommunications company alone accounted for approximately 52.20% of total market turnover by value, highlighting the degree to which trading liquidity on the exchange continues to be concentrated in a limited number of highly liquid counters.
MTN Ghana closed marginally higher at GH¢6.91 from a previous closing price of GH¢6.90, representing an increase of about 0.14%.
The broader session, however, was characterised by a mixture of strong individual gains and moderate declines, with several lower-priced stocks posting some of the day’s largest percentage movements.
Enterprise Group emerged as one of the strongest performers among the main-board equities, gaining 8.77% to close at GH¢6.70, from a previous price of GH¢6.16. Investors traded 30,055 Enterprise shares valued at approximately GH¢201,368.50.
Dannex Ayrton Starwin also recorded a significant advance, climbing 8.20% from GH¢1.83 to GH¢1.98.
The pharmaceutical company attracted substantial activity, with 101,183 shares changing hands for GH¢200,378.04.
SIC Insurance gained 6.20%, closing at GH¢5.31 after starting from a previous closing level of GH¢5.00. A total of 22,208 shares were traded in the insurer, generating turnover of approximately GH¢118,196.86.
CAL Bank advanced 2.74% to GH¢0.75, from GH¢0.73, on a relatively high volume of 112,706 shares valued at roughly GH¢84,000.
Kasapreko also maintained its recent market activity, adding 1.54% to close at GH¢1.98, compared with GH¢1.95 previously. The beverages company recorded 91,437 shares worth GH¢180,908.07.
GCB Bank edged 0.18% higher to GH¢39.16 on 16,606 shares valued at GH¢650,197.42, making it one of the largest contributors to turnover outside MTN Ghana.
The banking stock’s relatively high value contribution despite its lower volume reflects its substantially higher share price.
The strongest percentage advances were recorded on the Ghana Alternative Market.
Meridian-Marshalls Holdings rose 9.09% from GH¢0.11 to GH¢0.12, although turnover remained extremely small at just 5,568 shares worth GH¢668.16.
Digicut Production and Advertising climbed 8.33% to GH¢0.26 from GH¢0.24, on 5,129 shares valued at GH¢1,333.54.
Those gains underscore an important feature of lower-priced equities: relatively small absolute price changes can translate into significant percentage movements even when underlying trading volumes remain limited.
Intravenous Infusions moved in the opposite direction, declining 1.32% from GH¢0.76 to GH¢0.75 despite recording the largest volume on the GAX, at 170,376 shares valued at GH¢127,967.79.
Among the other decliners, Ecobank Transnational Incorporated fell 1.61% to GH¢1.83, from GH¢1.86, on 61,303 shares worth GH¢110,018.90.
GOIL declined 0.67% to GH¢7.45, while Clydestone slipped 0.33% to GH¢5.98.
Several heavyweight stocks ended the session unchanged. Ecobank Ghana closed at GH¢39.02, Guinness Ghana Breweries remained at GH¢10.70, Standard Chartered Bank Ghana held at GH¢69.89, Unilever Ghana finished unchanged at GH¢40.00, while TotalEnergies Marketing Ghana remained at GH¢41.50.
Outside ordinary equities, trading in the NewGold exchange-traded fund remained limited, with just 17 units changing hands at GH¢462.39, generating turnover of GH¢7,860.63.
Friday’s market therefore displayed a familiar pattern on the Ghana Stock Exchange: headline turnover remained heavily dependent on a small number of large and liquid stocks, while substantial percentage movements in smaller companies contributed relatively little to overall market value.
MTN Ghana’s GH¢3.30 million turnover alone exceeded the combined value traded in many of the exchange’s other active securities and reinforced its position as one of the principal sources of liquidity on the market.
GCB Bank followed with approximately GH¢650,197, while Ecobank Ghana generated about GH¢385,830.
The concentration presents both an opportunity and a structural challenge for the exchange.
Highly liquid counters such as MTN Ghana provide investors with greater ease of entry and exit, improving price discovery and supporting market participation.
But a broader and deeper equities market requires liquidity to spread more evenly across sectors and companies.
Friday’s GH¢6.32 million turnover also represented a notable slowdown from Thursday’s session, when trading value reached about GH¢15.96 million, showing how sharply daily activity can fluctuate depending on transactions in the market’s largest counters.
Despite the softer turnover, the number of advancing stocks and the strength of gains in Enterprise Group, Dannex Ayrton Starwin, SIC Insurance and selected GAX counters provided evidence of continuing investor interest beyond the market’s dominant telecommunications stock.
For investors, the closing session of the week therefore presented a mixed picture: liquidity eased substantially, MTN Ghana continued to control the turnover profile, but buying interest remained visible across selected financial, pharmaceutical and consumer-facing equities.
The key question going into the new trading week will be whether those gains broaden into stronger market-wide participation or whether activity continues to depend heavily on a handful of stocks capable of driving the exchange’s daily turnover.
