- MTN, Access Bank Drag Market Sentiment Despite Strong Trading Volumes
Trading on the Ghana Stock Exchange closed on a mixed note on Wednesday, May 13, 2026, with market activity dominated by Scancom PLC, operators of MTN Ghana, even as the telecoms stock recorded a price decline. According to the official list for the 7,210th trading session, total market turnover stood at GH₵5.79 million, with investors exchanging 1.07 million shares across equities and exchange-traded instruments.
MTN Ghana accounted for the overwhelming share of activity, with 788,826 shares traded, valued at GH₵5.14 million. The counter, however, fell by GH₵0.19 to close at GH₵6.52, making it one of the main drags on market sentiment for the session.
The performance of MTN underlined the market’s continued dependence on a few highly liquid counters. While several listed equities recorded little or no trading activity, MTN remained the dominant source of liquidity, reinforcing its role as one of the most actively watched stocks on the local bourse.
Access Bank Ghana also came under selling pressure, recording the steepest price decline of the day. The bank’s share price dropped by GH₵3.00 to close at GH₵27.60, after 759 shares changed hands, valued at GH₵21,185.40.
Ghana Oil Company also edged lower, shedding GH₵0.01 to close at GH₵7.94, with 7,726 shares traded for GH₵61,344.44.
The day’s only notable advancer was Ecobank Transnational Incorporated, which gained GH₵0.11 to close at GH₵1.48. ETI recorded 81,780 shares traded, with a total value of GH₵120,779.01, offering some support to an otherwise cautious session.
Other counters that saw activity included CAL Bank, which traded 171,434 shares valued at GH₵137,097.20, and GCB Bank, which recorded 4,438 shares worth GH₵159,768.00. TotalEnergies Marketing Ghana traded 1,234 shares valued at GH₵43,054.26, while Republic Bank Ghana recorded 3,483 shares worth GH₵19,156.50.
The ordinary shares segment accounted for 1.065 million shares, valued at GH₵5.78 million. NewGold, the exchange-traded fund on the market, recorded 31 shares traded, valued at GH₵15,407.31, bringing total market turnover to GH₵5.79 million.
The session reflected a market where liquidity remains concentrated in a limited number of counters, with MTN continuing to shape trading direction by both volume and value. The decline in MTN’s share price, together with losses in Access Bank and GOIL, weighed on the broader tone of trading despite gains in ETI.
For investors, the trading pattern suggests continued selectivity, with attention likely to remain on large-cap stocks, banking counters, telecoms, oil marketing firms and dividend-paying equities as the market assesses corporate earnings, liquidity conditions and the broader recovery in the economy.
The next few sessions will be important in determining whether MTN’s price decline reflects temporary profit-taking or a broader adjustment in investor positioning on the market’s most liquid counter.
