- GSE Composite Index Slips 0.53% as Market Capitalisation Falls to GH¢285.85bn
The Ghana Stock Exchange ended the week on a bearish note as selling pressure across selected equities outweighed pockets of buying interest, pushing both the broader market and financial stocks lower.
According to SIC Brokerage’s Weekly Markets Report for the week ended July 2, 2026, the GSE Composite Index declined by 77.81 points to close at 14,689.01 points, from 14,766.82 points in the previous week.
This translated into a one-week loss of 0.53%, extending the market’s short-term weakness, although the Composite Index retained a strong year-to-date return of 67.49%.
The GSE Financial Stocks Index also closed lower, falling by 47.15 points to 8,207.73 points, from 8,254.88 points a week earlier.
The financial index posted a weekly decline of 0.57%, while its year-to-date gain eased to 76.62%, from 77.63% in the previous week.
The weaker close reflected broad market caution, with investors taking profit in selected counters after the strong rally recorded earlier in the year.
Market capitalisation also declined during the week, falling by GH¢2.20 billion to GH¢285.85 billion, from GH¢288.05 billion.
Trading activity slowed considerably, with total volume traded falling to 13.85 million shares, compared with 43.21 million shares in the previous week.
Total value traded also dropped sharply to GH¢43.58 million, from GH¢125.85 million a week earlier, pointing to reduced activity in the market despite continued dominance by a few highly traded counters.
MTN Ghana led market turnover, recording GH¢29.05 million in traded value from 4.56 million shares.
The telecoms stock accounted for 66.64% of total market value traded during the week, reinforcing its position as the most liquid counter on the exchange.
Kasapreko PLC followed with GH¢7.07 million in value traded from 3.76 million shares, while CAL Bank recorded GH¢1.25 million from 1.59 million shares.
TOTAL also featured among the most traded equities, with GH¢1.17 million in value traded from 29,600 shares, while GCB Bank recorded GH¢995,673.00 from 24,807 shares.
On price movement, TOTAL emerged as the week’s best-performing stock, gaining GH¢3.60 to close at GH¢39.60.
GCB Bank followed with a GH¢2.00 gain to close at GH¢41.00, lifting its year-to-date return to 103.88%.
Clydestone Ghana also advanced, gaining GH¢0.15 to close at GH¢3.10, with a year-to-date return of 573.91%, making it one of the strongest performers on the exchange this year.
Intravenous Infusions Limited also gained GH¢0.02 to close at GH¢0.18, with a year-to-date return of 260.00%.
Despite these gains, the market’s overall tone remained negative as decliners outnumbered gainers.
GGBL lost GH¢0.02 to close at GH¢11.97, while SIC Insurance fell by GH¢0.02 to GH¢6.01.
CAL Bank declined by GH¢0.03 to GH¢0.78, while Fan Milk lost GH¢0.04 to close at GH¢13.30.
MTN Ghana also fell by GH¢0.04 to close at GH¢6.42, although it remained the market’s leading stock by turnover.
Ecobank Transnational Incorporated declined by GH¢0.07 to GH¢2.20, while Kasapreko lost GH¢0.11 to close at GH¢1.88.
Republic Bank Ghana was the worst-performing stock for the week, declining by GH¢0.39 to close at GH¢4.00.
The decline in RBGH came despite the stock maintaining a strong year-to-date return of 207.69%, suggesting that the week’s movement may have reflected profit-taking after earlier gains.
Other decliners also retained strong year-to-date performances, including SIC Insurance at 400.83%, Ecobank Transnational Incorporated at 185.71%, GGBL at 81.36%, Fan Milk at 66.25%, Kasapreko at 56.67% and MTN Ghana at 52.86%.
The latest market performance suggests that while investor sentiment has softened in the near term, the equity market remains significantly ahead on a year-to-date basis.
The GSE Composite Index’s 67.49% return and the Financial Stocks Index’s 76.62% gain show that the market’s broader recovery remains intact despite the week’s bearish close.
However, the sharp fall in turnover and market capitalisation indicates that investors are becoming more selective, particularly after strong gains in several counters.
With MTN Ghana continuing to dominate activity, market direction in the near term is likely to remain influenced by performance in highly liquid counters, alongside movements in banking, consumer and petroleum stocks.
For now, the GSE has closed the week weaker, but still with substantial year-to-date gains, suggesting that the market is undergoing short-term correction rather than a broad reversal of the 2026 rally.
Source: SIC Brokerage Weekly Markets Report, July 2, 2026.
