- GSE Market Activity Normalises After ACCESS-Driven Surge
Trading activity on the Ghana Stock Exchange cooled sharply on Tuesday, July 14, 2026, as the market returned to more normal levels after the previous session’s exceptional ACCESS-led turnover surge.
The GSE Official List for the 7252nd trading session showed total volume traded at 3.79 million shares, with total value traded of GH¢19.04 million. Compared with the July 13 session, when market turnover reached GH¢289.95 million, value traded fell by 93.43%, while volume declined by 74.70%.
The sharp fall was not necessarily a sign of market weakness. Rather, it reflected the absence of the large ACCESS transaction that dominated the previous trading day. On July 13, Access Bank Ghana PLC alone accounted for GH¢277.85 million of total turnover. On Tuesday, ACCESS recorded only 82 shares valued at GH¢2,615.80 and closed unchanged at GH¢31.90.
With ACCESS no longer driving market activity, Scancom PLC, trading as MTNGH, became the dominant counter. MTNGH recorded 2.53 million shares valued at GH¢16.32 million, accounting for 66.66% of total market volume and 85.70% of total market turnover.
MTNGH also recovered marginally from the previous session’s decline, gaining GH¢0.02 to close at GH¢6.45, representing a 0.31% increase from its previous closing price of GH¢6.43. Given the stock’s liquidity and market influence, its performance remains central to daily market direction.
Ecobank Ghana PLC followed MTNGH by value traded, recording 18,722 shares worth GH¢653,948.50. The stock gained GH¢0.44 to close at GH¢34.94, representing a 1.28% increase. CAL Bank PLC ranked third by value, with 668,088 shares traded for GH¢531,076.89, although its price remained unchanged at GH¢0.79.
Kasapreko PLC also recorded notable activity, trading 238,671 shares valued at GH¢446,480.38 and closing unchanged at GH¢1.88. SIC Insurance Company PLC traded 59,602 shares worth GH¢357,612.00, also closing flat at GH¢6.00.
Together, MTNGH, EGH, CAL, KASA and SIC accounted for GH¢18.31 million, or 96.15% of total market turnover. This indicates that while the market recorded activity across several counters, liquidity remained heavily concentrated in a small group of stocks.
Ordinary shares accounted for 3.62 million shares valued at GH¢18.98 million, representing 95.37% of total volume and 99.70% of total value traded. The Ghana Alternative Market contributed 175,443 shares valued at GH¢52,189.76, while NewGold recorded 10 units valued at GH¢4,620.00.
Price movements were more active than the headline turnover suggested. TotalEnergies Marketing Ghana PLC was the strongest gainer on the main market, rising by GH¢1.74 to close at GH¢42.00. This represented a 4.32% gain from its previous closing price of GH¢40.26 and pushed the stock to its year-high level.
GCB Bank PLC gained GH¢0.27 to close at GH¢42.77, up 0.64%, after trading 4,909 shares valued at GH¢210,291.50. EGH’s 1.28% gain added further support to the financial sector, while MTNGH’s modest recovery helped stabilise sentiment after its previous decline.
On the Ghana Alternative Market, Intravenous Infusions PLC and Hords PLC continued their strong run. IIL gained GH¢0.03 to close at GH¢0.33, representing a 10.00% increase, while HORDS rose GH¢0.01 to GH¢0.16, up 6.67%. Both counters closed at new year-high levels.
IIL traded 142,464 shares worth GH¢47,013.12, while HORDS traded 32,979 shares valued at GH¢5,176.64. Although the GAX contribution to total market value remained small, the price action in IIL and HORDS shows continuing investor interest in selected lower-priced growth counters.
Ecobank Transnational Incorporated was the only price loser on the day, declining by GH¢0.02 to close at GH¢2.16, a 0.92% fall from its previous closing price of GH¢2.18. ETI traded 64,212 shares valued at GH¢138,975.23.
Most counters closed unchanged, including ACCESS, ADB, BOPP, CAL, CLYD, CPC, EGH? Actually EGH gained, EGL, FML, GGBL, GOIL, KASA, RBGH, SCB, SIC, SOGEGH, TLW, ZEN Petroleum Holdings Plc and NewGold.
The session therefore presented a mixed picture. Turnover fell sharply because Monday’s block-driven market activity was not repeated. But beneath the headline decline, several counters recorded gains, with TOTAL, IIL, HORDS, EGH, GCB and MTNGH all moving higher.
For investors, the key message is that market liquidity remains uneven. Large institutional trades can dramatically lift daily turnover, as seen in the previous ACCESS-dominated session. Without such trades, activity quickly returns to a narrower base led by highly liquid counters such as MTNGH, CAL, KASA and selected financial stocks.
The heavy concentration in MTNGH also reinforces the telecom stock’s role as a liquidity anchor on the exchange. When MTNGH trades in size, it can dominate market turnover and shape investor sentiment, even when broader market activity is modest.
Tuesday’s trading also showed continued strength in selected equities despite the fall in turnover. TOTAL’s rise to GH¢42.00, IIL’s move to GH¢0.33 and HORDS’ advance to GH¢0.16 suggest that investor appetite remains active in pockets of the market.
The challenge for the GSE remains breadth. A healthy market rally requires more than isolated gains or block trades. It requires sustained participation across sectors, improved liquidity in more counters and stronger alignment between price movements and corporate earnings.
For now, the market remains active, but concentrated.
The July 14 session was not a repeat of the previous day’s exceptional turnover. It was a reminder that Ghana’s equity market can record strong headline numbers when a major counter trades in size, but daily liquidity still depends heavily on a few dominant stocks.
MTNGH carried the market on Tuesday. The next test will be whether the broader market can follow.
