The Ghana Stock Exchange (GSE) recorded modest gains in its 6,935th trading session, with the GSE Composite Index (GSE-CI) rising 0.18% to close at 6,230.22 points.
The GSE Financial Stocks Index (GSE-FSI) edged up 0.03% to 3,061.77, reflecting cautious optimism in a session marked by selective investor activity.
Telecom Giant Drives Volumes
Scancom PLC (MTNGH), the parent company of MTN Ghana, dominated trading with shares worth GH¢1.32 million changing hands, accounting for nearly 86% of the day’s total traded value. The telecom heavyweight’s stock inched up 0.3% to GH¢3.20, buoyed by sustained institutional demand. NewGold (GLD), an exchange-traded fund tracking gold prices, followed with GH¢107,835 in trades, climbing 0.7% to GH¢455.
Overall market capitalization closed at GH¢137.14 billion, with MTNGH contributing GH¢42.36 billion, or 31%, to the total.
Indices Reflect Gradual Growth
The GSE-CI’s year-to-date increase now stands at 0.27%, while the GSE-FSI has risen 0.29% since January. Analysts attributed the incremental gains to stability in banking and consumer goods stocks, though trading volumes remained subdued compared to earlier sessions.
Stagnant Performances Raise Eyebrows
Several equities saw zero activity, including Samba Foods Limited (SAMBA) and state-owned PBC Limited, both listed on the Ghana Alternative Market (GAX). Aluworks PLC (ALW) and Mega African Capital (MAC) reported negative earnings per share, flagged as “not meaningful” in exchange filings due to sustained losses.
Cal Bank Ltd (CAL) and Ecobank Transnational Inc. (ETI) emerged as mid-session movers, with CAL trading 74,647 shares at GH¢0.78 and ETI recording GH¢37,771 in value traded.
Investors Await Catalysts
Market participants remain focused on upcoming earnings reports and macroeconomic indicators, including Ghana’s inflation trajectory and fiscal policy adjustments. “The market is in a holding pattern,” said Kwame Asante, an analyst with Accra-based Frontier Capital. “While blue chips like MTNGH and SCB anchor stability, broader momentum hinges on improved liquidity and foreign inflows.”
Thursday’s session saw 538,819 shares traded across all platforms, totaling GH¢1.53 million in value. The exchange will resume trading on Friday, with investors eyeing quarterly disclosures from key financial institutions.
