- GSE trades GH¢6.68m as MTN Ghana dominates turnover despite 0.57% price decline
Trading on the Ghana Stock Exchange generated GH¢6.68 million in turnover on Tuesday as investors exchanged 1.83 million shares, with Scancom PLC, operators of MTN Ghana, accounting for more than two-fifths of the value traded.
Data from the Exchange’s 7,282nd trading session showed mixed price movements across the market, with gains in Unilever Ghana, Dannex Ayrton Starwin, Ecobank Transnational Incorporated and Kasapreko offset by declines in Guinness Ghana Breweries, Enterprise Group, MTN Ghana and a number of other counters.
Ordinary shares accounted for 1.41 million shares valued at GH¢6.36 million, before transactions on the Ghana Alternative Market and NewGold ETF lifted aggregate market turnover to 1.83 million shares worth GH¢6.68 million.
MTN Ghana dominates turnover despite price decline
MTN Ghana remained the single largest contributor to equity market turnover, with 408,328 shares valued at GH¢2.83 million changing hands.
The telecommunications stock accounted for approximately 42.33% of the total value traded and 22.29% of overall market volume, underscoring its continuing importance to liquidity on the local bourse.
MTN Ghana, however, ended the session weaker. Its closing price declined by GH¢0.04 from GH¢6.96 to GH¢6.92, representing a 0.57% decrease.
GCB Bank followed among the larger trades by value, recording GH¢640,967.80 from 16,437 shares, while Enterprise Group generated GH¢474,759.68 from 64,017 shares.
Kasapreko PLC also attracted significant activity, with 169,772 shares valued at GH¢332,345.94 changing hands. The beverages manufacturer advanced from GH¢1.93 to GH¢1.96, a 1.55% gain.
Unilever and Dannex lead main-market gainers
Unilever Ghana recorded the largest absolute price increase on the main market, closing at GH¢39.59, up GH¢1.59 from its previous closing price of GH¢38.00. The move represented a 4.18% appreciation and took the stock to its reported 2026 year-high of GH¢39.59.
Dannex Ayrton Starwin delivered the strongest percentage gain among the main-market advancers, rising from GH¢1.39 to GH¢1.52, equivalent to 9.35%. A total of 136,105 shares in the pharmaceutical company changed hands for GH¢206,489.00.
Ecobank Transnational Incorporated gained 3.35% to GH¢1.85, while Societe Generale Ghana edged 0.89% higher to GH¢5.65.
Kasapreko’s 1.55% increase completed a broadly positive showing among the day’s main-market gainers.
Guinness, Enterprise lead declining stocks
At the opposite end of the market, Guinness Ghana Breweries recorded the steepest percentage decline among ordinary shares, falling from GH¢11.88 to GH¢10.70.
The GH¢1.18 reduction represented a 9.93% decline, with 20,775 shares traded at a total value of GH¢222,319.64.
Enterprise Group also came under selling pressure, closing at GH¢7.41, down from GH¢8.11. The GH¢0.70 decline translated into an 8.63% fall.
Trust Bank Gambia declined 3.79% to GH¢1.27, while CAL Bank eased 1.35% to GH¢0.73.
Clydestone Ghana slipped 0.15% to GH¢6.48, ZEN Petroleum Holdings declined 0.18% to GH¢10.88, while MTN Ghana’s GH¢0.04 decline translated into a 0.57% retreat.
Banking counters produce mixed session
Banking stocks delivered a mixed performance.
Ecobank Transnational Incorporated and Societe Generale Ghana advanced, while CAL Bank declined.
Several other banking stocks closed unchanged. GCB Bank remained at GH¢39.00 after generating GH¢640,967.80 in turnover. Ecobank Ghana also held at GH¢39.02, with GH¢238,295.14 worth of shares traded.
First Atlantic Bank closed unchanged at GH¢8.40, Republic Bank Ghana at GH¢4.20 and Standard Chartered Bank Ghana at GH¢70.00.
Access Bank Ghana and Agricultural Development Bank recorded no trading volume during the session and maintained their previous closing prices of GH¢30.95 and GH¢5.30 respectively.
Consumer counters show divergent performance
Consumer-related stocks also moved in different directions.
While Unilever Ghana and Kasapreko advanced, Guinness Ghana Breweries suffered the day’s sharpest main-market decline.
Fan Milk remained unchanged at GH¢13.23 after 9,748 shares valued at GH¢128,966.04 changed hands. Benso Oil Palm Plantation also held at GH¢76.00, while TotalEnergies Marketing Ghana closed unchanged at GH¢42.00.
Ghana Oil Company finished flat at GH¢7.50.
GAX contributes 22.94% of market volume
Activity on the Ghana Alternative Market was concentrated in Intravenous Infusions, Hords and Digicut Production & Advertising.
The three counters generated a combined 420,391 shares valued at GH¢315,250.19, representing approximately 22.94% of total market volume but only 4.72% of total value traded.
Intravenous Infusions dominated GAX activity with 336,685 shares worth GH¢243,126.02. Its price increased from GH¢0.70 to GH¢0.75, representing a 7.14% gain.
Hords advanced 1.15% from GH¢0.87 to GH¢0.88 on 78,706 shares, while Digicut gained 5.26% to GH¢0.20.
Samba Foods and Meridian Marshalls recorded no trades.
Market interpretation
Tuesday’s session reflected a market in which liquidity remained heavily concentrated in a handful of counters, particularly MTN Ghana, even as price performance was more broadly distributed.
MTN Ghana alone generated 42.33% of the total value traded, meaning movements in a relatively small number of highly liquid stocks continue to exert an outsized influence on daily market activity.
At the same time, the session showed pockets of investor interest beyond the largest stocks. Dannex, Unilever, Kasapreko and selected GAX counters recorded appreciable gains, while the high trading volume in Intravenous Infusions demonstrated continued activity in lower-priced stocks.
The session nevertheless produced a mixed pricing picture. Gains in eight counters across the main market and GAX were accompanied by declines in seven ordinary shares, including major names such as MTN Ghana, Guinness Ghana Breweries and Enterprise Group.
Overall, the GH¢6.68 million turnover points to active trading by recent-market standards, but the concentration of more than 40.00% of value in a single counter highlights the continuing challenge of broadening liquidity across the Ghanaian equities market.
