- GSE Records GH¢10.62 Million Turnover as GAX Stocks Lead Price Gains as ETI Dominates September 11 Trading
Trading on the Ghana Stock Exchange reached GH¢10.62 million on Friday, September 11, 2026, as investors exchanged 7.10 million shares in a session overwhelmingly dominated by Ecobank Transnational Incorporated and MTN Ghana.
Official market data for trading session 7,295 show that ordinary shares accounted for 6.83 million units valued at GH¢10.37 million, with the remaining activity coming from the Ghana Alternative Market and the NewGold exchange-traded fund.
ETI emerged as the clear market leader, recording 6.06 million shares valued at GH¢6.70 million. That represented approximately 85.32% of the total number of securities traded during the session and 63.09% of total market value.
The pan-African banking group nevertheless ended the day slightly weaker, closing at GH¢1.70 from a previous closing price of GH¢1.71, equivalent to a decline of 0.58%. Its sheer volume meant that a relatively small movement in the counter coincided with the largest concentration of liquidity on the market.
MTN Ghana ranked second by value and volume, with 357,697 shares changing hands for GH¢2.45 million. The telecommunications stock accounted for 23.07% of total traded value and 5.04% of overall volume, reinforcing its position as one of the market’s most liquid counters.
MTN Ghana also came under modest selling pressure, easing 0.29% from GH¢6.87 to GH¢6.85. Together, ETI and MTN Ghana generated GH¢9.15 million, or about 86.17% of the entire session’s turnover value, highlighting the strong concentration of activity in two stocks.
Kasapreko provided the next-largest block of activity among ordinary equities, trading 164,506 shares worth GH¢305,604.68. The beverage company edged 0.54% higher from GH¢1.85 to GH¢1.86, continuing to attract liquidity following its entry onto the public market.
GCB Bank recorded GH¢172,337.00 from 4,096 shares and closed unchanged at GH¢42.00, while GOIL generated GH¢155,435.66 from 24,293 shares but suffered one of the session’s steepest price declines.
The oil marketing company fell 9.14% from GH¢7.00 to GH¢6.36, a GH¢0.64 drop that left its closing bid at GH¢6.30 against an offer of GH¢7.00.
Access Bank Ghana also came under significant pressure, declining 7.11% from GH¢23.91 to GH¢22.21 on 5,132 shares valued at GH¢116,912.32.
Societe Generale Ghana lost 6.21%, falling from GH¢5.96 to GH¢5.59 on turnover of GH¢24,065.22. Those declines, alongside the softer closes in ETI and MTN Ghana, contrasted with gains recorded in a smaller group of counters.
Cocoa Processing Company advanced 10.00% from GH¢0.20 to GH¢0.22 on 6,897 shares, while Dannex Ayrton Starwin Pharmaceuticals gained 9.89% to GH¢1.00 from GH¢0.91 on 27,542 shares valued at GH¢27,542.00.
The strongest percentage gain, however, came from Digicut Production & Advertising on the Ghana Alternative Market. Digicut rose 14.29% from GH¢0.28 to GH¢0.32 after 36,260 shares changed hands for GH¢11,603.20.
Intravenous Infusions also gained 3.64%, moving from GH¢0.55 to GH¢0.57 on 199,796 shares valued at GH¢113,932.34. Hords moved in the opposite direction, declining 1.39% from GH¢0.72 to GH¢0.71 on 39,622 shares.
The GAX segment consequently contributed roughly 275,992 shares valued at about GH¢153,485.25, with Intravenous Infusions accounting for the largest share of both value and volume within the junior market.
Other counters recorded meaningful turnover without price movements. CAL Bank traded 49,933 shares worth GH¢35,562.17 and remained at GH¢0.71, while Trust Bank Gambia exchanged 84,095 shares worth GH¢100,914.00 at an unchanged GH¢1.20.
Fan Milk closed steady at GH¢14.00 after GH¢43,428.00 in trades, First Atlantic Bank remained at GH¢8.40 on GH¢37,800.00 turnover, and Ecobank Ghana stayed at GH¢38.00 following trades worth GH¢29,686.40.
The NewGold ETF added GH¢93,865.17 to market turnover from only 203 units because of its substantially higher unit price of GH¢462.39. That represented about 0.88% of total traded value despite accounting for only a negligible share of market volume.
Several listed companies recorded little or no trading despite maintaining quoted prices. AngloGold Ashanti, Asante Gold, Aluworks and PBC recorded no turnover, while Standard Chartered traded only one share and Unilever Ghana six shares.
The September 11 session therefore presented a market in which headline liquidity remained heavily dependent on a small number of large counters.
ETI alone accounted for more than six in every 10 cedis traded, while ETI and MTN Ghana together generated more than 86.00% of turnover value. Beneath that concentration, price action was mixed, with gains in CPC, DASPHARMA, Kasapreko, Intravenous Infusions and Digicut offset by declines in ACCESS, GOIL, Societe Generale Ghana, ETI, MTN Ghana and Hords.
For investors, the session underscored the persistent difference between activity and breadth on the Ghanaian equities market: turnover can rise sharply when a handful of liquid names attract block trades, even while large parts of the market remain relatively quiet. Total activity nevertheless closed at 7,101,715 securities worth GH¢10,620,154.40, providing another indication of where investor liquidity continues to concentrate on the Exchange.
