- NewGold Gains as MTN Ghana Slips on Heavy Trading as GSE Records GH¢59.47m
Trading activity on the Ghana Stock Exchange closed at GH¢59.47 million on Tuesday, May 26, 2026, with MTN Ghana dominating market turnover despite recording one of the day’s biggest price declines.
According to the GSE Official List for the 7219th trading session, total market volume stood at 9.25 million shares, valued at GH¢59.47 million. Ordinary shares accounted for 9.25 million shares worth GH¢59.32 million, while NewGold ETF contributed 298 units valued at GH¢149,571.
MTN Ghana was the most actively traded equity, recording 8.84 million shares worth GH¢57.56 million, representing about 96.8 per cent of total market value. The stock, however, declined by GH¢0.22, closing at GH¢6.51 from a previous VWAP of GH¢6.73.
The heavy trading in MTN Ghana again underlined the telecoms operator’s central role in market liquidity, even as the price decline weighed on the broader tone of the session.
The day’s biggest equity gainer was Zen Petroleum Holdings, which advanced by GH¢0.83 to close at GH¢11.47. The counter traded 4,608 shares valued at GH¢53,125.20.
TotalEnergies Marketing Ghana also gained GH¢0.09, closing at GH¢33.00, while Ecobank Transnational Incorporated rose by GH¢0.05 to close at GH¢1.39. NewGold ETF advanced by GH¢4.92, closing at GH¢501.92, after 298 units changed hands.
On the losers’ chart, SIC Insurance recorded the steepest decline, falling by GH¢0.29 to close at GH¢5.00. MTN Ghana followed with a GH¢0.22 loss, while CalBank shed GH¢0.02 to close at GH¢0.73. Fan Milk also eased by GH¢0.01, closing at GH¢13.32.
Other heavily traded counters included GCB Bank, which recorded 14,893 shares valued at GH¢536,148, and Ecobank Transnational Incorporated, with 132,166 shares worth GH¢183,403.01. CalBank also saw notable activity, trading 181,175 shares valued at GH¢132,937.35.
In the banking segment, GCB Bank closed unchanged at GH¢36.00, Standard Chartered Bank remained flat at GH¢71.38, while CalBank’s decline to GH¢0.73 reflected continued pressure on selected financial stocks. Republic Bank Ghana also closed unchanged at GH¢5.20.
Among oil and petroleum-linked counters, Ghana Oil Company closed unchanged at GH¢7.93, while TotalEnergies Ghana’s gain to GH¢33.00 provided one of the few positive price movements among larger listed companies.
The market session showed a highly concentrated trading pattern, with MTN Ghana alone accounting for nearly all turnover. This suggests that overall liquidity remains dependent on a narrow group of counters, even as price movements across the wider market remained mixed.
For investors, the key signal from the session was the contrast between turnover strength and price softness. MTN Ghana’s large value traded confirmed its liquidity appeal, but its price drop placed downward pressure on sentiment.
The gain in NewGold ETF also reflected continued interest in gold-linked instruments at a time when global gold market dynamics remain important for investors seeking defensive exposure.
Overall, the session ended with strong turnover but uneven price performance. MTN Ghana carried the market by value and volume, Zen Petroleum and NewGold led the gainers, while SIC Insurance, MTN Ghana and CalBank dragged the losers’ side.
The next session is likely to test whether MTN Ghana can stabilise after the sharp decline, and whether demand for NewGold and selected petroleum counters can provide broader support to market sentiment.
