- MTN Ghana and NewGold Lead Trading as GSE Records GH¢10.00 Million Turnover
Trading activity on the Ghana Stock Exchange improved on Friday, May 15, 2026, with total market turnover rising to GH¢9.99 million on the back of strong activity in MTN Ghana, NewGold ETF, Ecobank Transnational Incorporated, CalBank and TotalEnergies Marketing Ghana.
According to the GSE Official List for the 7212 trading session, a total of 1,464,714 shares and units changed hands, with total value traded reaching GH¢9,995,597.70. Ordinary shares accounted for 1,416,667 shares, valued at GH¢6,648,797.27, while NewGold ETF recorded 6,725 units traded, valued at GH¢3,342,335.98.
MTN Ghana dominated the session by value and volume among ordinary shares, recording 786,652 shares traded for GH¢5,109,419.84. The telecoms counter, however, slipped marginally by GH¢0.01 to close at GH¢6.49, from a previous closing price of GH¢6.50. The decline in MTN Ghana’s share price, though modest, was significant because of the counter’s weight on the market and its continued influence on overall trading sentiment.
NewGold ETF also recorded strong activity, with 6,725 units traded for GH¢3,342,335.98. The exchange-traded fund closed slightly lower at GH¢497.00, down by GH¢0.01 from its previous closing price of GH¢497.01.
The strong NewGold turnover reflects continued investor interest in gold-linked exposure at a time when gold remains an important macro and portfolio hedge for investors.
On the equities side, Ecobank Transnational Incorporated recorded the second-highest volume among ordinary shares, with 270,693 shares traded for GH¢414,076.13. ETI closed at GH¢1.52, down GH¢0.01 from its previous closing price of GH¢1.53.
CalBank was also actively traded, with 306,413 shares worth GH¢237,495.63 changing hands. The stock gained GH¢0.01 to close at GH¢0.77, after opening at GH¢0.76 and recording a last transaction price of GH¢0.78.
The gain in CalBank provided one of the few positive price movements on the main market during the session.
TotalEnergies Marketing Ghana also edged higher, gaining GH¢0.01 to close at GH¢33.00. The counter recorded 7,302 shares traded, valued at GH¢240,965.76.
Other notable trades included GOIL, which recorded 28,660 shares valued at GH¢227,560.40, and Benso Oil Palm Plantation, which traded 2,152 shares worth GH¢183,996.00. GCB Bank recorded 3,287 shares valued at GH¢118,392.00, closing unchanged at GH¢36.00.
Several blue-chip and financial counters remained unchanged on the day. Access Bank Ghana closed at GH¢27.60, Ecobank Ghana at GH¢48.85, Standard Chartered Bank Ghana at GH¢71.38, GCB Bank at GH¢36.00, Fan Milk at GH¢13.34, and ZEN Petroleum at GH¢7.55.
On the Ghana Alternative Market, Hords PLC and Intravenous Infusions PLC posted gains. Hords rose by GH¢0.01 to close at GH¢0.11, with 39,321 shares traded for GH¢4,324.35, while Intravenous Infusions also gained GH¢0.01 to close at GH¢0.07 on 2,000 shares valued at GH¢140.00.
The session’s price movements showed a mixed market, with gains in CalBank, TotalEnergies, Hords and Intravenous Infusions offset by marginal declines in MTN Ghana, ETI and NewGold.
The market’s activity remained concentrated in a few counters. MTN Ghana alone accounted for about 51.1% of total market value traded, while NewGold contributed about 33.4%. Together, the two instruments represented roughly 84.5% of total turnover, underscoring the continued concentration of liquidity in a narrow group of securities.
The session also reflected cautious investor positioning, with many counters recording no trades despite firm bid or offer prices. This points to a market where liquidity remains available in selected names, but broader participation across the listed universe is still uneven.
The equities market is likely to open the next session with attention focused on whether MTN Ghana stabilises after its marginal decline, whether financial stocks such as CalBank and ETI continue to attract volume, and whether NewGold sustains strong ETF activity amid investor demand for gold-linked exposure. GSE turnover improved meaningfully, but liquidity remains heavily concentrated in MTN Ghana and NewGold, leaving the broader market dependent on a narrow set of active counters for momentum.
