GSE: MTN Ghana Leads Market Gains Amid Strong Buy-Side Pressure and Dividend Anticipation
The Ghana Stock Exchange (GSE) experienced a robust performance this week, with the GSE Composite Index climbing by 96.10 points, a 2.14% increase week-on-week, to close at 4,586.28 points.
This gain has propelled the index to a year-to-date (YTD) increase of 46.52%.
Simultaneously, the GSE Financial Stock Index saw a rise, closing at 2,115.52 points with a YTD return of 11.25%.
Noteworthy performers included GCB, BOPP, and RBGH, closing at GH¢5.90, GH¢23.05, and GH¢0.52 respectively. MTN Ghana (MTNGH) maintained its upward trajectory, advancing to GH¢2.41 amid strong buy-side pressures as investors aimed to qualify for its interim dividend scheduled for September.
These gains contributed to the market’s total valuation reaching GH¢94.36 billion, marking a week-on-week increase.
Despite the bullish sentiment, trading turnover saw a decline from the previous week, with total traded volumes also dipping. A total of 735,157 shares changed hands, culminating in a trade value of GH¢1,944,468.33.
MTNGH dominated the trading activities, leading both in volume and value. CAL Bank followed, with 110,350 shares traded, amounting to GH¢37,519.00. GCB, SIC, and EGL were also notable in the trade activity rankings for the week.
The market’s performance underscores continued investor confidence, particularly in MTNGH, as anticipation builds for its forthcoming dividend distribution.
