Ghana Stock Market Posts 4.51% Weekly Gain on Strong Telecom and Banking Stocks
Ghana’s equities market continued its bullish momentum last week, buoyed by a sharp rise in MTN Ghana’s share price, which led the GSE Composite Index (GSE-CI) 4.51% higher to 6,707.64 points—its strongest weekly advance this year. The GSE Financial Stock Index (GSE-FSI) also posted a modest gain, rising 0.94% to 3,168.48 points.
Market capitalization climbed to a record GH¢143.71 billion, up from GH¢140.25 billion the previous week, amid a surge in trading volumes and values. Weekly turnover soared 347.04% in volume terms and 128.18% by value, with GH¢102.57 million worth of shares exchanged across the bourse, underscoring renewed investor appetite for equities.
MTNGH emerged as the standout performer, notching a 7.27% gain to close at GH¢3.54, lifting its year-to-date (YTD) return to a robust 41.60%. The telecom giant also dominated trading activity, accounting for over 20.99 million shares valued at GH¢70.04 million.
Other gainers included Unilever Ghana (UNIL), which added GH¢0.96 to end the week at GH¢25.50 (+5.13% YTD), and Ecobank Ghana (EGH), which rose by GH¢0.30 to GH¢7.50 (+15.38% YTD). Fan Milk (FML) climbed 10.81% YTD after gaining GH¢0.10, while GCB Bank (GCB) and Guinness Ghana Breweries (GGBL) advanced 20.25% and 9.09% YTD, respectively.
On the downside, Ghana Oil Company (GOIL) and TotalEnergies Marketing Ghana (TOTAL) recorded marginal losses of GH¢0.01 and GH¢1.10, while GLD slumped by GH¢46.98 to GH¢380.03, making it the week’s worst performer.
The GSE-CI and GSE-FSI have returned 37.21% and 33.09% YTD, respectively, positioning Ghana’s bourse among the best-performing in Africa so far this year.
