The Ghana Stock Exchange (GSE) closed the week of April 27 to 30 with the benchmark GSE Composite Index (GSE-CI) rising 1.73% to 15,130.52, supported by strong gains in a handful of counters even as overall trading volumes declined and activity remained heavily concentrated in ICT stocks.
MTN Ghana dominated the week’s trading by a wide margin, recording 7.54 million shares traded worth GHS 50.09 million, single-handedly accounting for the bulk of market turnover. The ICT sector as a whole made up 65.78% of total volume traded and 57.93% of total value traded for the week, underscoring a liquidity structure on the exchange that continues to hinge on one name.
Total market volume fell 15.11% week-on-week to 11.51 million shares, and turnover dipped 0.90% to GHS 86.54 million, reflecting weaker participation across the broader market. Market capitalisation, however, moved in the opposite direction, rising 1.02% to GHS 281.84 billion as price gains in selected stocks lifted overall valuations.
The GSE Financial Stocks Index (GSE-FSI) was virtually unchanged, slipping 0.02% to 8,839.41, pointing to mixed and largely directionless performance among banking equities. Financial stocks ranked second in terms of activity, recording GHS 29.92 million in value traded. GCB Bank, Zenith Bank and Access Bank were among the more active names in the sector, though price movement across banking stocks was uneven.
Gainers and Losers
Market breadth was mixed across listed equities. ZEN Petroleum Holdings led the gainers with a 12.66% advance for the week, followed by CLYD, which gained 11.11%, ALLGH, which rose 8.33%, and UNIL, which added 5.41%. SIC Insurance gained 5.02% and MTN Ghana itself rose 3.50%.
On the losing side, FML fell 5.74%, GCB Bank eased 2.28% despite remaining active by volume, GGBL dropped 2.03%, and ETI retreated 1.36%. The average price movement across listed equities was positive at 1.88% for the week, reflecting a mild overall upward bias despite the uneven distribution of gains.
Turnover was volatile across individual sessions. Trading peaked sharply on April 30, the final day of the week, at GHS 41.51 million, following comparatively weak mid-week activity on April 28 and 29. The year-to-date gain on the GSE-CI stands at 72.52%, while the GSE-FSI has gained 90.21% since the start of the year, making both indices among the strongest performers in the region for 2026.
Outside ICT and financials, trading across agriculture, manufacturing, insurance, mining and exchange-traded fund (ETF) segments remained subdued and collectively contributed a small share of total turnover. The pattern reinforces a market structure where broader participation across listed sectors remains thin and selective.
