MTN Ghana Extends Rally, Propels GSE to Fresh Highs as Market Activity Surges
The GSE’s benchmark equity gauge extended its upward momentum on Wednesday, driven by gains in MTN Ghana, which lifted the GSE Composite Index by 85.32 points to close at 6,396.77 — its highest level in over a year. The day’s move pushed the index’s year-to-date return to an impressive 30.85%.
MTN Ghana (MTNGH) continued its bullish run, adding 8 pesewas to settle at GH¢3.29 per share, bringing its 2025 year-to-date gain to 31.6%. The telecoms giant dominated trading, accounting for 527,560 shares valued at over GH¢1.73 million.
The market’s bullish tone was reflected in the surge in total turnover, which climbed 85.5% from the previous session to GH¢3.76 million. Trading volumes similarly spiked, rising 181% to 902,741 shares, underpinned by robust demand in banking and telecom stocks.
The GSE Financial Stocks Index, however, remained flat at 3,130.76 points, holding steady with a year-to-date return of 31.50%.
Conversely, the sole decliner for the day was the Ghana-listed gold ETF (GLD), which shed GH¢1.45 to trade at GH¢440.05, reducing its 2025 gain to 12.69%.
CAL Bank (CAL), Ecobank Transnational (ETI), GLD, and GOIL followed MTN in the day’s top-five traded equities by volume. Notably, despite GLD’s price drop, it recorded the second-highest trade value of the session at GH¢1.75 million.
Market capitalisation rose by GH¢1.05 billion to GH¢140.03 billion, reflecting growing investor confidence.
Ghana’s equities market continues to defy regional headwinds, buoyed by strong corporate earnings and investor appetite for blue-chip stocks. However, analysts caution that sustained upside will depend on macroeconomic stability and improved liquidity conditions in the fixed-income market.
