GSE Composite Index Records Marginal Weekly Gain Amid Decline in Financial Stocks
The equities market recorded a marginal uptick in trading activity over the week, as gains in select counters lifted the benchmark index despite notable declines in financial stocks.
The data shows the GSE Composite Index (GSE-CI) advanced by 80.4 points week-on-week to close at 15,691.69 points, translating into a 0.51% weekly return. This pushed the year-to-date (YTD) return further to 78.92%.
In contrast, the GSE Financial Stock Index (GSE-FSI) declined by 301.07 points to settle at 9,844.23 points, recording a negative weekly return of 2.97%, although its YTD performance remains strong at 111.83%.
Market capitalisation expanded by approximately GH¢882.17 million over the period to GH¢293.46 billion, supported by gains across multiple sectors.
Trading activity strengthened, with total volume traded rising to 45.9 million shares, up from 35.1 million shares recorded in the previous week. Correspondingly, total market value traded surged to GH¢283.65 million from GH¢131.85 million.
On the equities front, BOPP and RBGH emerged as the week’s top performers. BOPP gained GH¢14.00 to close at GH¢100.00, while RBGH advanced by GH¢1.35 to GH¢5.38. Other notable gainers included GOIL, MTNGH, CLYD and EGL, reflecting sustained investor interest in selected non-financial counters.
On the downside, SIC and GCB led the laggards, shedding GH¢2.36 and GH¢6.23 to close at GH¢4.54 and GH¢45.77 respectively. Additional decliners included SOGEGH, GGBL and TOTAL, contributing to the broader weakness observed within the financial segment.
MTNGH dominated trading activity, recording the highest volume of shares traded at 40.8 million, valued at GH¢265.54 million. It was followed by ETI and CAL, which posted volumes of 2.18 million and 1.61 million shares respectively.
Analysts attribute the mixed market performance to sustained selling pressure on financial stocks, which offset gains recorded in consumer and telecom equities.
Going forward, market watchers expect cautious investor sentiment to persist, particularly within the financial sector, while selective buying in fundamentally strong counters could continue to provide support for the broader market.
