- NorvanReports | GSE weekly equities: Finance and ICT drive sharp jump in turnover as banks extend rally
Activity on the Ghana Stock Exchange accelerated in the week ended April 24, 2026, with turnover value surging more than 40 per cent from the prior week as investors doubled down on banking names and select blue chips, pushing both benchmark indices deeper into year-to-date gains.
Total market turnover rose to 13.55m shares worth GH¢87.33m, representing a 6.68% increase in volume and a 40.12% jump in value compared with the previous week’s 12.70m shares worth GH¢62.32m, according to the GSE’s weekly trade summary. The exchange’s market capitalisation climbed to GH¢278.98bn, up 4.70% week-on-week.
The rally was broad enough to lift the GSE Composite Index to 14,873.11, up 6.05% over the week, while the GSE Financial Stocks Index advanced 6.34% to 8,841.04. On a year-to-date basis, the exchange reported gains of 62.16% for the composite index and 69.59% for the financial index, underscoring the strength of the 2026 equities rebound.
Trading remained concentrated in two sectors that have increasingly set the tone for the market: finance and ICT. Finance accounted for 46.08% of total volume traded, while ICT dominated value, representing 43.90% of the week’s traded value. The distribution reflects persistent appetite for banks and telcos, even as investors rotate in and out of other sectors on earnings expectations and liquidity considerations.
At the stock level, GCB Bank led weekly gainers, rising from GH¢31.77 to GH¢42.52, a jump of 33.84% that took its year-to-date advance to 93.27%. SIC Insurance followed with a 20.63% gain to GH¢5.38, while Republic Bank Ghana (RBGH) added 18.22% to close at GH¢5.58. Other notable movers included Societe Generale Ghana (+11.50%) and Zenith Bank Ghana (+9.00%), reinforcing the bank-heavy complexion of this week’s momentum.
On the downside, TOTAL was the steepest decliner, falling 9.77% to GH¢34.54, leaving the counter down 14.19% year-to-date. BOPP slipped 5.55% to GH¢85.00, while Fan Milk (FML) eased 2.79% to GH¢12.20. Enterprise Group (EGL) and Golden Star (GLD) also recorded modest weekly declines.
Liquidity was again anchored by a handful of names. MTN Ghana (MTNGH) topped both value and volume charts, with the exchange listing it among the top five value traded stocks alongside GCB, GLD, SIC and ETI. By volume, MTNGH was joined by CAL Bank, ETI, SIC and GCB, a mix that captures the week’s blend of retail-friendly activity and institutional interest in banks.
The average price change for the week was +5.92%, pointing to a market still enjoying a strong risk-on bid. The near-term test, investors say, is whether the rally broadens beyond the familiar leaders or remains a liquidity-driven sprint concentrated in financials and a small set of high-turnover equities.
