Trading Volume Sinks 72% on GSE as Investor Momentum Slows
Equities commenced the week on a bearish note, with the benchmark Ghana Stock Exchange Composite Index (GSE-CI) shedding 75.53 points to close at 6,025.40 on Monday, reflecting cooling investor sentiment and marking a modest retreat from its recent upward trajectory. The index’s year-to-date gain narrowed to 23.26%, down from 24.80% recorded previously.
Losses in heavyweight stocks such as MTN Ghana and CalBank weighed on the market. MTN Ghana dropped 2.3% to GH¢3.00, while CalBank slipped 1.4% to GH¢0.69. Gold-backed security GLD also declined by GH¢3.02 to GH¢480.57. The broader financial stock index fell slightly by 1.22 points to 3,061.43, though it maintains a robust year-to-date return of 28.59%.
Market capitalisation fell sharply by GHS932.12 million to GHS134.69 billion. Trading activity was markedly subdued, with volume plunging by 72.4% to 313,461 shares. Total market turnover slumped 92.4% to GHS895,020.08 from the previous session’s figure of nearly GHS12 million.
MTN Ghana dominated trading, accounting for more than 60% of total volume and value with 193,475 shares exchanged for GHS580,600.63. It was followed by Ecobank Transnational Inc. (ETI), CalBank, Intravenous Infusions Ltd (IIL), and DAS Pharma.
The lacklustre session follows a bullish March in which the GSE-CI posted a monthly gain of 558.13 points, translating into a 27.19% year-to-date return — significantly outperforming the 10.41% YTD gain recorded in the same period of 2024.
Despite the latest dip, investor appetite for financial stocks remains relatively strong, underscored by March’s 244.99-point climb in the GSE Financial Index. Nonetheless, the sharp downturn in trading volumes signals possible caution ahead of MTN Ghana’s final dividend payment of GHS0.24 per share scheduled for April 16.
