Equity Market Sees 2,500% Spike in Turnover as MTN Leads Trading Activity
Equities advanced sharply on Tuesday, buoyed by gains in telecoms major MTN Ghana, which extended its upward momentum to help push the benchmark index to a fresh high for the year.
The GSE Composite Index climbed 21.33 points to close at 6,455.96, translating into a year-to-date return of 32.06%. Market capitalisation increased by GHS264.7 million to GHS140.72 billion.
MTN Ghana (MTNGH) was the sole gainer on the day, rising 0.02 cedis to GH¢3.32, a level that reflects a 32.8% appreciation since the start of the year.
Turnover surged dramatically, with volumes traded rising over 2,250% to 12.2 million shares, while the value of transactions ballooned to GHS40.28 million, representing a 2,532% increase on the previous session.
MTN Ghana alone accounted for the bulk of the day’s activity, recording trades worth GHS40.23 million.
The Financial Stocks Index held steady at 3,162.31 points, posting a year-to-date gain of 32.83%.
Other heavily traded counters included Ecobank Transnational Incorporated (ETI), Intravenous Infusions Limited (IIL), CAL Bank, and Hords Limited (HORDS), though none recorded price movements.
Analysts suggest the robust performance reflects renewed investor confidence in large-cap equities, supported by improved macroeconomic fundamentals.
