- GSE Composite Index Slips 0.53% As Weekly Turnover Drops To GH¢43.58m
Trading activity on the Ghana Stock Exchange weakened sharply in the week ending July 2, 2026, as market turnover fell by 65.37% despite continued strong investor interest in ICT stocks, led by Scancom PLC, trading as MTN Ghana.
The GSE equities weekly trade summary showed that total value traded declined to GH¢43.58 million from GH¢125.85 million in the previous week, while traded volume dropped by 67.94% to 13.85 million shares from 43.21 million shares.
The moderation in activity was accompanied by a fall in market value, with total market capitalisation declining by 0.76% to GH¢285.85 billion from GH¢288.05 billion a week earlier.
The benchmark GSE Composite Index also slipped by 0.53% to close the week at 14,689.01 points, while the GSE Financial Stock Index fell by 0.57% to 8,207.73 points. Despite the weekly pullback, the market remains strongly positive year-to-date, with the GSE Composite Index up 67.49% and the financial index up 76.62%.
The week’s trading pattern was heavily concentrated in the ICT sector, which accounted for 4.56 million shares and GH¢29.06 million in value traded. That represented 32.90% of total volume and 66.67% of total market value traded.
The sector performance chart on page 2 confirms ICT as the dominant contributor to weekly value traded, far ahead of food and beverage stocks, which recorded GH¢7.36 million, and finance stocks, which recorded GH¢4.27 million. Distribution followed with GH¢1.50 million, while insurance and manufacturing recorded GH¢643,251.10 and GH¢623,872.85 respectively.
MTN Ghana was the clear market leader for the week, topping both the value and volume tables. The stock recorded GH¢29.05 million in value traded and 4.56 million shares in volume, making it the principal liquidity driver on the bourse.
Kasapreko PLC followed MTNGH on both measures, trading GH¢7.07 million in value and 3.76 million shares in volume. CAL Bank placed third by value with GH¢1.25 million, while TotalEnergies Marketing Ghana and GCB Bank recorded GH¢1.17 million and GH¢995,673.00 respectively.
On the volume side, Intravenous Infusions PLC was the third most traded counter with 3.26 million shares, behind MTNGH and Kasapreko. CAL Bank and Ecobank Transnational Incorporated completed the top five volume table with 1.59 million and 371,393 shares respectively.
The week’s price movements were mixed, though the average price change for the period was positive at 0.84%. Intravenous Infusions PLC led the gainers after rising 12.50% to close at GH¢0.18, extending its year-to-date gain to 260.00%.
TotalEnergies Marketing Ghana also posted a strong weekly gain, advancing 10.00% to GH¢39.60, although the stock remains down 1.61% year-to-date. GCB Bank rose 5.13% to GH¢41.00, while Clydestone Ghana gained 5.08% to close at GH¢3.10.
The losers were led by Republic Bank Ghana, which fell 8.88% to GH¢4.00, despite maintaining a year-to-date gain of 200.75%. Kasapreko declined by 5.53% to GH¢1.88, while CAL Bank lost 3.70% to close at GH¢0.78. ETI also declined by 3.08% to GH¢2.20.
MTN Ghana, despite dominating activity, fell by 0.62% for the week to close at GH¢6.42. The stock, however, remains up 52.86% year-to-date, reinforcing its role as one of the key contributors to the market’s strong performance in 2026.
The daily trade chart on page 3 showed that the strongest value traded during the week occurred on July 1, when turnover reached GH¢16.33 million on volume of 5.62 million shares. Market capitalisation, however, dipped to GH¢284.84 billion that day before recovering to GH¢285.85 billion on July 2.
The same chart shows that turnover value stood at GH¢6.96 million on June 29, GH¢7.94 million on June 30, GH¢16.33 million on July 1 and GH¢12.35 million on July 2, indicating that mid-week activity provided the strongest support to weekly liquidity.
The latest report suggests that while the GSE remains strongly positive on a year-to-date basis, weekly trading activity has become more concentrated and sensitive to movements in a few highly liquid counters.
MTN Ghana’s dominance underscores the continued importance of large-cap telecoms exposure to market liquidity. At the same time, strong activity in Kasapreko, CAL Bank, TotalEnergies and GCB shows that investor interest is still present across selected consumer, banking and distribution counters.
However, the steep weekly decline in turnover and volume points to a quieter market relative to the previous week, with investors appearing more selective after a strong year-to-date rally.
For the near term, market direction will likely depend on whether institutional and retail investors continue rotating into liquid large-cap names or begin taking profit after the strong gains recorded across several counters.
Despite the weekly pullback, the GSE’s year-to-date performance remains robust, suggesting that investor sentiment towards equities is still broadly constructive, even as trading activity moderates.
