GSE Composite Index Advances as Market Cap Rises by GHS 1.31bn; MTNGH Leads Trade
The Ghana Stock Exchange (GSE) closed higher on Wednesday, July 31, buoyed by gains in MTN Ghana (MTNGH) and increased trading activity.
The benchmark GSE Composite Index climbed to 6,776.09 points, reflecting a year-to-date (YTD) return of 38.61%. However, the Financial Stocks Index marginally dipped by 1.11 points to settle at 3,422.89 points, albeit maintaining a strong YTD return of 43.77%.
Market capitalisation witnessed a significant boost, increasing by GHS1.31 billion to close at GHS143.46 billion.
Trading activity surged sharply, with a total of 3,877,672 shares exchanging hands – an 865.79% increase compared to the previous session. The total market turnover amounted to GHS12,080,447.04.
MTNGH emerged as the sole gainer on the day, appreciating to GH¢3.35 per share. On the flip side, SIC Insurance (SIC) lost ground, declining to GH¢1.05 per share.
MTNGH also topped the day’s trading chart with 3,438,673 shares changing hands, amounting to GHS11,517,897.65 in market value. SIC, Ecobank Transnational Incorporated (ETI), CAL Bank (CAL), and Republic Bank Ghana (RBGH) followed in descending order of traded volumes.
Market analysts point to sustained investor interest in telecom and insurance counters as a key driver of the day’s performance, with expectations of continued momentum in the weeks ahead.
