- GSE Turnover Hits GH¢17.90m As GCB And MTN Ghana Dominate September 4 Trading
Trading on the Ghana Stock Exchange generated GH¢17.90 million in value on September 4, 2026, with activity heavily concentrated in GCB Bank and MTN Ghana despite price movements across several smaller counters.
A total of 1,495,613 shares changed hands during the 7,290th trading session, according to the Exchange’s official list. Ordinary shares accounted for 1,393,046 shares worth GH¢17.83 million, with the remainder coming largely from securities listed on the Ghana Alternative Market.
The concentration of turnover was striking. GCB Bank alone recorded 306,297 shares valued at GH¢12.11 million, giving the lender approximately 67.68% of the entire market’s traded value for the session.
MTN Ghana followed with 713,611 shares worth GH¢4.90 million, equivalent to another 27.36% of total turnover. Together, GCB and MTN Ghana accounted for about 95.04% of all value traded, leaving the rest of the market to share less than 5.00% of the session’s activity.
That concentration provides an important qualification to the headline turnover figure. While GH¢17.90 million represents meaningful daily activity, the session did not reflect broad-based liquidity across listed equities.
GCB closed unchanged at GH¢39.55, despite dominating trading by value, while MTN Ghana advanced from GH¢6.80 to GH¢6.86, representing a gain of approximately 0.88%. The telecommunications stock ended the session with a closing bid of GH¢6.80 and offer of GH¢6.90.
Kasapreko was another notable gainer, rising from GH¢1.87 to GH¢1.90, an increase of about 1.60%, on 87,775 shares valued at GH¢166,762.45.
But the wider price picture remained mixed.
Clydestone fell from GH¢5.29 to GH¢5.18, a decline of approximately 2.08%, while Ecobank Transnational Incorporated slipped 1.11% from GH¢1.80 to GH¢1.78. SIC Insurance eased 0.19% to GH¢5.26.
The sharper losses came from smaller counters.
Dannex Ayrton Starwin dropped from GH¢1.34 to GH¢1.21, representing a decline of approximately 9.70%, on 72,470 shares worth GH¢87,688.70. Trust Bank Gambia fell about 8.40% to GH¢1.20, while Intravenous Infusions declined approximately 5.80% to GH¢0.65.
Digicut Production & Advertising provided one of the session’s strongest percentage gains, rising from GH¢0.36 to GH¢0.39, or roughly 8.33%, on 7,049 shares. The move, however, generated only GH¢2,749.11 in traded value, illustrating the need to distinguish percentage price changes in relatively illiquid counters from moves backed by substantial turnover.
Several heavily capitalised and actively watched stocks were unchanged.
Benso Oil Palm Plantation closed at GH¢76.67, CalBank at GH¢0.72, Ecobank Ghana at GH¢39.02, Enterprise Group at GH¢6.53, Fan Milk at GH¢13.23 and Guinness Ghana Breweries at GH¢10.70.
CalBank nevertheless remained active by volume, recording 105,621 shares worth GH¢76,303.88, while Ecobank Ghana traded only 171 shares despite its relatively high share price. This contrast further demonstrates how liquidity can vary sharply across listed companies even when closing prices remain unchanged.
Ghana Oil Company recorded 9,185 shares worth GH¢68,428.25 at an unchanged GH¢7.45, while ZEN Petroleum Holdings traded 6,644 shares worth GH¢66,440.00 at GH¢10.00. Unilever Ghana closed unchanged at GH¢40.00 on 613 shares.
Activity on the Ghana Alternative Market was led by Intravenous Infusions and Hords.
Intravenous Infusions traded 57,588 shares worth GH¢37,331.22, while Hords recorded 37,929 shares valued at GH¢31,481.07. Digicut added 7,049 shares worth GH¢2,749.11, while Samba Foods and Meridian Marshalls recorded no trades.
The September 4 session therefore presented a market with reasonable headline turnover but limited breadth.
GCB and MTN Ghana did most of the heavy lifting in value terms, while the more pronounced percentage movements occurred in counters trading substantially smaller amounts. That distinction matters when assessing whether daily activity signals a broad shift in investor sentiment or simply reflects large transactions in a handful of liquid names.
For investors, the key feature of the session was therefore not simply the GH¢17.90 million traded.
It was the fact that two stocks accounted for approximately 95.04% of that value, highlighting the continued concentration of liquidity on the Ghana Stock Exchange even as individual smaller stocks recorded sharp price movements.
