Local Bourse Indices Close Higher Despite GHS 2.67bn Dip in Market Capitalisation
The Ghana Stock Exchange (GSE) staged a strong rebound last Friday, with both benchmark indices posting gains driven by renewed investor interest across key counters.
The GSE Composite Index (GSE-CI) rose 2.63% to close at 8,411.88, up from 8,229.16 the previous week, buoyed by broad-based advances across the market. The Financial Stocks Index (GSE-FSI) also inched up by 0.42% to 4,204.23, signalling improved sentiment within the banking and financial services sector.
Trading activity was led by notable gains in Benso Oil Palm Plantation (BOPP), which surged GH¢4.15 to GH¢45.70, and the NewGold ETF (GLD), which climbed GH¢2.73 to GH¢449.86. The two counters were the biggest contributors to the week’s upward movement, reflecting sustained demand from both institutional and retail investors.
On the laggards’ list, only Republic Bank Ghana (RBGH) and CAL Bank recorded price declines. RBGH slipped by GH¢0.02, while CAL shed GH¢0.06, pointing to mild profit-taking pressures on these stocks.
However, despite the pricing gains across several equities, the market’s total capitalization fell by GH¢2.67 billion, closing the week at GH¢165.51 billion. The dip underscores ongoing valuation adjustments and the impact of declines in selected large-cap counters on aggregate market value.
Market analysts note that the positive performance across the indices signals sustained investor confidence, even as broader macroeconomic uncertainties continue to shape trading sentiment.
