- GSE Composite Index Gains 1.39% as Weekly Turnover Rises to GH¢40.73m
Trading activity on the Ghana Stock Exchange strengthened significantly in the week ending May 22, 2026, as the benchmark Composite Index advanced and market turnover rose sharply, driven largely by activity in MTN Ghana, Intravenous Infusions, GCB Bank and selected growth counters.
According to the GSE Equities Market Weekly Trade Summary for May 18 to 22, 2026, the GSE Composite Index rose by 1.39 per cent week-on-week to close at 14,518.96 points, from 14,320.45 points in the previous week. This lifted the index’s year-to-date return to 65.55 per cent.
The GSE Financial Stocks Index, however, declined by 2.33 per cent to close at 7,881.22 points, from 8,068.95 points a week earlier. Despite the weekly pullback, the financial index remained strongly positive year-to-date, with a return of 69.59 per cent.
Total volume traded surged to 58.16 million shares, compared with 5.28 million shares in the prior week, representing an increase of more than 1,001 per cent. Total value traded also rose by 45.41 per cent to GH¢40.73 million, from GH¢28.01 million previously.
The sharp increase in market activity reflected strong trades in a few liquid counters. According to the report’s top-five value chart on page 2, MTN Ghana led the market with GH¢22.30 million in value traded, followed by GCB Bank with GH¢5.74 million, Intravenous Infusions with GH¢4.16 million, ETI with GH¢1.36 million, and CalBank with GH¢1.31 million.
By volume, Intravenous Infusions dominated trading, recording 51.50 million shares, followed by MTN Ghana with 3.34 million shares, CalBank with 1.72 million shares, ETI with 938,066 shares, and GCB Bank with 155,255 shares.
The ICT sector was the leading sector by value, accounting for GH¢22.45 million, or 55.12 per cent of total market value traded. Manufacturing dominated by volume, with 51.53 million shares, representing 88.59 per cent of market volume.
Despite the improvement in index performance and trading value, market capitalisation declined marginally by 0.20 per cent to GH¢264.27 billion, compared with GH¢264.81 billion in the previous week.
ZEN Petroleum was the week’s best-performing stock, rising by 28.21 per cent to close at GH¢9.68, from GH¢7.55. The stock’s year-to-date gain reached 93.60 per cent, reinforcing its position as one of the stronger performers on the local bourse.
Intravenous Infusions followed with a 14.29 per cent gain to close at GH¢0.08, while MTN Ghana rose by 3.70 per cent to GH¢6.73. Clydestone also advanced by 3.55 per cent to GH¢2.04, extending its year-to-date gain to 308.00 per cent. GCB Bank gained 2.75 per cent to close at GH¢36.99.
On the downside, Ecobank Ghana recorded the steepest weekly decline, falling by 1.74 per cent to GH¢48.00. Unilever Ghana lost 1.67 per cent to close at GH¢29.50, Guinness Ghana Breweries declined 1.40 per cent, CalBank fell 1.30 per cent, while TotalEnergies Marketing Ghana eased by 0.27 per cent.
The average price change for the week stood at 3.59 per cent, suggesting that gains in selected counters were strong enough to offset losses elsewhere and support the broader Composite Index.
The daily trading chart on page 3 shows that the week opened with heavy activity on May 18, when volume reached 49.03 million shares and value traded stood at GH¢10.39 million. The highest value traded for the week was recorded on May 22, at GH¢13.97 million, despite lower volume of 2.35 million shares.
The week’s performance points to a market still supported by strong investor interest, especially in ICT, banking and selected growth counters. However, the decline in the Financial Stocks Index and marginal fall in market capitalisation suggest that investors are becoming more selective after months of strong equity gains.
For the coming week, attention is likely to remain on MTN Ghana, ZEN Petroleum, Clydestone, GCB Bank and financial stocks, as investors assess whether the market’s strong year-to-date rally can be sustained amid changing interest-rate expectations, dividend positioning and broader macroeconomic signals.
