- GSE Opens Week Firmly as MTN Drives Turnover Above GH¢21.5 Million
The Ghana Stock Exchange opened the new trading week on a firmer footing on Monday, with turnover climbing to GH¢21.56 million on traded volume of 4.34 million shares, as MTN Ghana continued to dominate market activity and selected financial stocks posted fresh gains.
MTN Ghana set the session’s tone overwhelmingly, accounting for the bulk of value traded after 2,811,593 shares changed hands worth GH¢17.72 million. The telecoms stock closed at GH¢6.28, up GH¢0.18 from the previous session, reinforcing its status as the exchange’s principal liquidity driver and the stock most capable of shaping the market’s headline direction.
Monday’s performance suggests the market began the week with stronger momentum than it ended the previous one. The rise in turnover, combined with further gains in several financial counters, points to continued investor interest in a narrow group of large, liquid names rather than a broad-based market advance.
Among the gainers, GCB Bank stood out again, rising GH¢3.17 to close at GH¢34.94, after 10,000 shares were traded for GH¢349,400. Société Générale Ghana also posted a strong move, gaining GH¢0.56 to GH¢6.21, while SIC Insurance advanced GH¢0.11 to GH¢4.57. Ecobank Transnational added GH¢0.10 to close at GH¢2.20.
CAL Bank, though unchanged at GH¢0.86, remained one of the market’s most active counters by volume, with 1,200,465 shares traded at a value of GH¢1.03 million. That left the stock as the second-largest contributor to turnover after MTN Ghana, underlining the continued importance of banking names in driving market liquidity.
Other notable contributors to activity included TotalEnergies Marketing Ghana, which traded 17,655 shares worth GH¢610,333.35, and GOIL, where 49,207 shares were exchanged for GH¢388,203.23. But while GOIL held steady at GH¢7.89, TotalEnergies emerged as the session’s biggest loser, falling sharply by GH¢3.71 to close at GH¢34.57.
That decline in TotalEnergies was one of the clearest signs that Monday’s stronger headline turnover did not translate into uniform price appreciation across the board. Enterprise Group also slipped marginally by GH¢0.01 to GH¢11.29, while most other listed equities were unchanged on the day.
Outside the main equities board, the NewGold ETF closed flat at GH¢502.89, with only 17 units traded. At the same time, activity on the Ghana Alternative Market remained dormant, with no trades recorded across the GAX counters.
Our reading of Monday’s session is that the GSE remains resilient, but still highly concentrated. Market strength is being carried by a small number of influential names especially MTN Ghana and selected bank stocks while much of the wider board remains thinly traded or unchanged.
Even so, with turnover moving above GH¢21.5 million at the start of the week, the exchange appears to be holding investor attention where liquidity and pricing momentum are strongest.
