- Unilever Gains 8.86% as Totalenergies and MTN Shares Fall
Trading on the Ghana Stock Exchange surged on Tuesday, with total volume rising to 12.13 million shares and traded value reaching GH¢42.33 million.
The jump from Monday’s 503,067 shares worth GH¢2.95 million was driven largely by heavy activity in Ecobank Transnational Inc. (ETI) and GCB Bank.
Compared with the previous session, total volume was about 24 times higher, while traded value increased more than 14-fold. Yet the day’s headline figures mask a concentrated market: ETI alone accounted for 10.12 million shares, or 83.46% of total volume, while GCB generated GH¢26.02 million, representing 61.48% of the day’s value.
Together, ETI and GCB contributed GH¢36.70 million, or 86.69% of total traded value. The turnover surge therefore reflected particularly strong activity in two counters rather than an equally broad rise across listed shares.
ETI closed unchanged at GH¢1.44, despite recording more than 10.12 million shares traded. On Monday, the counter recorded 29,031 shares, also at GH¢1.44.
The sharp increase in volume without a change in the closing price suggests a substantial expansion in trading activity, but the figures alone do not show what prompted the transactions or whether they represent a shift in investor sentiment.
GCB Bank also attracted much heavier trading than on Monday. Its volume rose from 610 shares to 619,400, with traded value increasing from GH¢25,669 to GH¢26.02 million. The share closed at GH¢42.01, down GH¢0.07 from the previous close of GH¢42.08.
The combination of high volumes and relatively small price movement in both banks shows why turnover should not be read as a direct measure of a rally.
Investors traded actively, but ETI’s closing price was unchanged and GCB’s edged lower. T
he report does not identify the buyers and sellers or explain whether the activity came from institutional trades, portfolio rebalancing or other factors.
The wider price picture was mixed. Unilever Ghana recorded the largest gain, rising GH¢3.50 to GH¢43.00, an increase of 8.86% from its previous close of GH¢39.50.
But only 529 Unilever shares traded, generating GH¢22,747. The large percentage gain therefore came on a small volume and should be interpreted with that limited activity in mind.
TotalEnergies Marketing Ghana was the session’s sharpest decliner by price, falling GH¢2.51, or 6.28%, to GH¢37.48. It recorded 9,350 shares traded, worth GH¢344,332. Scancom, which trades as MTNGH, fell GH¢0.13 to GH¢6.62, a 1.93% decline, on 518,113 shares worth GH¢3.43 million.
SIC Insurance slipped GH¢0.14 to GH¢4.86, down 2.80%, while Fan Milk eased GH¢0.01 to GH¢13.98.
Kasapreko rose by GH¢0.01 to GH¢1.81, with 454,899 shares traded for GH¢823,018. Enterprise Group advanced GH¢0.10 to GH¢8.50, while Societe Generale Ghana, GOIL and several other counters ended unchanged.
The activity in Kasapreko and MTNGH shows that trading extended beyond the two leading bank shares, though their value contributions were substantially smaller.
The session’s figures also show why total market value and the number of companies rising or falling need to be considered alongside volume.
A small number of large transactions can lift the aggregate turnover sharply without signalling a broad repricing of the market.
Likewise, a price move in a lightly traded share may not carry the same weight as a similar move supported by deeper activity.
The broader market’s turnover rose as the ordinary-share subtotal climbed to 11.98 million shares worth GH¢42.26 million.
The remaining activity included four NewGold ETF units valued at GH¢1,849 and trading on the Ghana Alternative Market, where Intravenous Infusions recorded 98,679 shares worth GH¢54,518.
Digicut fell GH¢0.02 to GH¢0.37, while Meridian Marshalls and Intravenous Infusions each gained GH¢0.01.
The immediate question for investors is whether Tuesday’s surge marks the beginning of sustained activity or a one-session spike led by a few securities.
ETI’s volume was exceptionally high relative to Monday, and GCB’s trading value dominated the day. The next sessions will show whether liquidity remains concentrated in those shares or spreads to other counters.
For now, the market closed with a striking rise in turnover but no uniform upward direction. ETI was unchanged, GCB and several large counters declined, and Unilever recorded the strongest gain on modest volume.
The numbers point to vigorous trading in selected shares, but a broader market recovery would require more counters to attract sustained participation and price gains backed by deeper trading.
