Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark
Ghana’s equity market continued its bullish momentum in the final week of July, buoyed by strong investor interest in heavyweight stocks, particularly MTN Ghana. The benchmark GSE Composite Index (GSE-CI) surged 4.82% week-on-week to close at 6,994.45 points—its highest level this year—bringing the year-to-date (YTD) return to a robust 43.08%.
The financial sector gauge, the GSE Financial Stock Index (GSE-FSI), also ticked higher, rising 0.46% to 3,428.15 points. Its YTD return now stands at 43.99%, underscoring renewed investor confidence in the banking and insurance counters.
Market capitalisation expanded significantly, climbing to GH¢146.13 billion on the back of heightened trading activity. Total volume traded increased 71.15% over the week to 60.83 million shares, while turnover jumped 96.66% to GH¢275.42 million—nearly doubling the previous week’s GH¢140.05 million.
MTN Ghana (MTNGH) was the week’s star performer, rallying 9.23% to GH¢3.55. The telecom giant accounted for the lion’s share of market activity, trading over 59 million shares valued at GH¢206.7 million. Other top gainers included Fan Milk (FML), Republic Bank Ghana (RBGH), Ecobank Ghana (EGH), and Societe Generale Ghana (SOGEGH), all recording notable price appreciations.
On the flip side, GLD (gold ETF) saw the steepest decline, shedding GH¢12.17 to end the week at GH¢361.58. TOTAL, SIC, and Access Bank Ghana also registered modest losses.
Ghana’s stock market remains the best-performing bourse on the continent year-to-date. Its 43.08% gain outpaces Nigeria’s NGSE ASI (37.25%), Kenya’s NSE ASI (28.73%), and Egypt’s EGX-30 (14.99%). South Africa’s JSE and the BRVM in WAEMU countries also trailed Ghana significantly.
