- GSE Turnover Surges to GH¢29.51m as MTN Ghana Accounts for 93.06% of Trading Value
Trading activity on the Ghana Stock Exchange accelerated sharply on Tuesday, August 18, 2026, as investors exchanged 4.55 million shares worth GH¢29.51 million, with MTN Ghana overwhelmingly dominating both volume and value despite ending the session marginally lower.
Official List 7277 shows that MTN Ghana alone recorded 3.91 million shares valued at GH¢27.46 million, accounting for approximately 85.92% of total market volume and 93.06% of overall traded value. The telecommunications company closed at GH¢7.02, down GH¢0.01 from its previous GH¢7.03 VWAP, representing a 0.14% decline.
The concentration in MTN Ghana meant that headline market turnover substantially overstated the breadth of activity across the wider exchange. Ordinary shares generated GH¢29.46 million from 4.47 million shares, representing about 99.84% of total traded value, while activity outside MTN Ghana amounted to only about GH¢2.05 million.
Among the more actively traded counters, Fan Milk recorded 19,200 shares worth GH¢254,016.77 and closed unchanged at GH¢13.23. SIC Insurance generated GH¢252,688.99 from 45,247 shares but eased 0.18% to GH¢5.58, while Societe Generale Ghana traded 43,507 shares worth GH¢226,055.23 and fell 3.89% to GH¢5.19.
CalBank was also active by volume, with 245,231 shares worth GH¢188,772.71 changing hands, although the stock remained unchanged at GH¢0.77. Standard Chartered Bank Ghana recorded GH¢179,573.10 in value and closed flat at GH¢70.00, while GCB Bank traded GH¢156,767.50 and finished unchanged at GH¢42.95.
Kasapreko provided one of the session’s stronger performances among the Main Market counters, rising from GH¢1.90 to GH¢1.94, equivalent to a 2.11% gain. The brewer recorded 86,130 shares worth GH¢167,538.08, extending the stock’s recovery following weakness in the previous session.
Dannex Ayrton Starwin Pharmaceuticals advanced more strongly, climbing 8.99% from GH¢0.89 to GH¢0.97 on 30,000 shares valued at GH¢29,100.00. Ecobank Transnational Incorporated gained 1.63% to GH¢1.87, while GOIL rose 0.88% to GH¢8.00.
The gains were partly offset by weakness elsewhere. Access Bank Ghana declined 1.71% to GH¢30.95, Clydestone slipped 0.46% to GH¢6.54 and MTN Ghana’s marginal loss was amplified in importance by the company’s weight in market activity.
Societe Generale Ghana recorded the steepest decline among the more actively traded Main Market stocks, falling from GH¢5.40 to GH¢5.19. The stock has now moved considerably below its 2026 high of GH¢11.51, although Tuesday’s official list by itself does not establish the factors driving the latest price adjustment.
The Ghana Alternative Market recorded a more uniformly positive session. Intravenous Infusions rose 10.00% to GH¢0.55 after 60,036 shares changed hands for GH¢33,019.80, while Hords gained 8.45% to GH¢0.77 on 16,659 shares worth GH¢12,827.43.
Digicut Production & Advertising also advanced, climbing 7.14% to GH¢0.15, although turnover remained modest at 2,312 shares worth GH¢346.80. Combined GAX activity amounted to 78,? Actually sum is 79,007 shares? Let’s calculate carefully: HORDS 16,659 + IIL 60,036 + DIGICUT 2,312 = 79,007 shares, worth GH¢46,194.03.
The NewGold exchange-traded fund saw only two units change hands at GH¢462.39 each, producing turnover of GH¢924.78. No trading was recorded in AngloGold Ashanti Depositary Shares or Standard Chartered preference shares.
Tuesday’s market therefore presented a sharp contrast between headline turnover and underlying distribution. A total GH¢29.51 million changed hands, but more than nine cedis out of every ten traded came from MTN Ghana alone, leaving the rest of the market comparatively thin.
That concentration is important when assessing the depth of the session because a large block of activity in one security can lift aggregate turnover without necessarily signalling broad-based liquidity across listed equities.
At the same time, gains in Kasapreko, Dannex, ETI, GOIL and the active GAX counters showed that positive price action remained visible outside the dominant MTN trade.
With 4.55 million shares worth GH¢29.51 million traded, August 18 was a substantially more active session in value terms than many recent trading days.
The key question for subsequent sessions will be whether that liquidity broadens across more counters or whether MTN Ghana continues to account for an unusually large share of activity on the Ghana Stock Exchange.
