GSE Financial Index Holds Steady as Composite Slips 9 Points

The Ghana Stock Exchange (GSE) wrapped up its final weekday session on a mixed note, as the benchmark GSE Composite Index (GSE-CI) slipped 9.71 points, representing a 0.13% decline to close at 7,330.37. 

This minor pullback translated into a weekly loss of 0.22%, trimming some of the index’s short-term momentum. However, on a broader scale, the composite index remains resilient, posting a 4-week gain of 4.8% and an impressive year-to-date surge of 49.95%, underscoring investor confidence in Ghana’s equity market.

In contrast to the dip in the composite index, the GSE Financial Stocks Index (GSE-FSI) held steady at 3,411.96 points. The financial index reflected a modest weekly gain of 0.07% but was weighed down by a 4-week loss of 0.47%.

Despite this, its year-to-date gain of 43.31% positions financial stocks as one of the major contributors to the GSE’s strong overall performance in 2025.

Turnover

Friday’s session saw remarkable growth in market activity, with a total of 526,041 shares traded at a market value of GHS 9,506,049.41. This marked a significant 86% jump in volume and an astonishing 548% improvement in turnover compared to the previous trading day. The sharp increase highlights heightened investor participation and renewed interest in equities, particularly toward the close of the week.

At the close of trading, the total market capitalization of the Ghana Stock Exchange stood firm at GHS 149.6 billion. This reflects the sustained strength of listed equities, especially against the backdrop of global economic uncertainties. The near GHS 150 billion market size solidifies the GSE’s standing as one of the most attractive and resilient bourses on the continent.

Rise

The day’s trading session recorded two gainers: Ghana Oil Company (GOIL) and NewGold ETF. GOIL led the charge with a 1.32% share price appreciation, reflecting growing investor confidence in the oil marketing firm’s fundamentals. NewGold ETF also added 0.31%, affirming its role as a reliable safe-haven asset for investors seeking to hedge against volatility in the equity market.

The only equity to lose value during the session was MTN Ghana, which shed 0.26%. Despite the decline, MTN remained the most actively traded stock, with a volume of 206,071 shares changing hands. Its dip contributed to the downward pressure on the composite index, underscoring the heavyweight influence of the telecommunications giant on the broader market.

Market Volume

Behind MTN, CalBank recorded the second-highest volume of trades with 138,935 shares, followed by TotalEnergies Marketing Ghana, which saw 112,961 shares traded. Ecobank Transnational rounded up the list of high-volume performers with 50,335 shares. These stocks contributed significantly to the session’s strong market activity, reinforcing the diverse participation of both banking and energy equities in sustaining turnover.

The mixed performance of the GSE in the final weekday session reflects the natural ebb and flow of market activity. While the composite index recorded a slight dip, the robust year-to-date gains of nearly 50% point to the enduring strength of Ghana’s capital market. The stability of the financial index also highlights continued resilience in banking and financial stocks, which are expected to benefit from sustained economic growth and expanding investor participation.

Market watchers believe that the impressive surge in turnover signals strong investor appetite for equities, particularly as Ghana continues to position itself as a leading investment destination in West Africa. However, short-term corrections like the one witnessed in the composite index are expected as investors rebalance portfolios and react to company-specific performance.