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ETI Tops Gainers Chart with 180.65% YTD Return as Market Sentiment Strengthens

5 months ago
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ETI Tops Gainers Chart with 180.65% YTD Return as Market Sentiment Strengthens

The equities market posted modest gains on Wednesday, April 16, 2025, with the benchmark GSE Composite Index (GSE-CI) advancing 16.48 points to close at 6,041.88. This movement reflects a strong year-to-date (YTD) return of 23.59%, signalling sustained investor confidence despite a sharp drop in trading activity.

The Financial Stock Index (GSE-FSI) also followed suit, adding 23.14 points to settle at 3,084.57, representing an impressive YTD gain of 29.56%.

Market capitalisation rose by GHS 572.99 million to GHS 135.27 billion. However, the volume of shares traded declined markedly by 61.21% to 361,099 shares, with total turnover reaching GHS 1.09 million—down 58.83% from the previous session. Analysts attributed the dip in market activity to profit-taking and tactical repositioning ahead of anticipated corporate earnings disclosures.

Despite lower volumes, top counters including ETI, GCB, SIC, and GLD closed in positive territory. ETI (Ecobank Transnational Inc.) led gainers, appreciating by GHS 0.02 to close at GHS 0.87, extending its YTD gain to a staggering 180.65%. SIC followed, climbing 0.06 to GHS 0.60 (up 144.44% YTD), while GCB and GLD advanced 13.97% and 26.38% YTD, respectively.

Telecom giant MTN Ghana (MTNGH) led trading volumes with 298,711 shares changing hands at a value of GHS 896,133.00. CAL Bank and ETI followed with trades worth GHS 21,289.26 and GHS 17,544.70, respectively, contributing to a market-wide traded value of GHS 1.09 million.

While overall liquidity dipped, the performance of high-cap and financial stocks continues to support optimism on the bourse. Market participants will be watching closely for upcoming earnings releases and macroeconomic indicators that could influence momentum in the near term.

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