The Ghana Stock Exchange (GSE) sustained its upward momentum in recent trading sessions, led by gains in NewGold, Ecobank, and GCB Bank, despite overall low market participation, Accra Street Journal has observed.
The Ghana Stock Exchange (GSE) continued its upward trajectory this week, with both the GSE Composite Index (GSE-CI) and the GSE Financial Stocks Index (GSE-FSI) posting gains on April 16, 2025. Despite this progress, the market showed signs of low participation, with most stocks recording no trading activity.
Analysts note that while trading volumes remain subdued, investor sentiment appears cautiously optimistic, with select equities showing resilience. Market watchers are urging broader engagement to deepen liquidity and maintain growth in Ghana’s capital markets as economic confidence slowly rebuilds.
According to data, the GSE-CI increased by 16.48 points, from 6,025.40 on April 15 to 6,041.88 on April 16, pushing the year-to-date growth to 23.59%. The GSE-FSI also gained 23.14 points, moving from 3,061.43 to 3,084.57, reflecting a 29.56% rise since the beginning of the year. Notably, a data discrepancy was observed, with the accompanying image mistakenly showing a downward trend for the FSI despite the actual increase.
Market capitalization climbed from GH₵134.69 billion to GH₵135.27 billion, signaling growing investor interest. However, a closer look at trading activity reveals a more concentrated market.
The trading landscape was dominated by a handful of companies. Salesman PLC (MTNGSI) led in volume with a staggering 984 million shares traded, while Oil Bank PLC (CAL) and Domenez Ayrian Sauvon Plc (DASPHARMA) recorded high-value trades of GH₵21.29 million and GH₵39.12 million, respectively. Agricultural Development Bank (AGB) also saw significant activity with GH₵1.16 million in trades.
However, trading volume took a sharp dip on Wednesday, April 16. The day recorded just 361,099 shares traded, a steep drop from 930,793 shares on Tuesday, April 15. Similarly, the total value of trades decreased from GH₵2.65 million on Tuesday to GH₵1.09 million on Wednesday.
Despite this, most other stocks, including Access Bank, Eschaum, Clydeshire, and Standard Chartered, recorded no trades. More than 15 stocks were completely inactive.
Among the top gainers on the day, Ecobank Transnational Inc. (ETI) saw a modest rise of GH₵0.02, closing at GH₵0.87 from its previous price of GH₵0.85. GCB Bank PLC also posted gains, climbing from GH₵7.10 to GH₵7.26, an increase of GH₵0.16.
SIC Insurance Company PLC recorded a GH¢0.06 improvement, closing at GH₵0.66. The standout performer, however, was the NewGold ETF (GLD), which surged by GH₵12.93 to end the session at GH₵493.50, up from GH₵480.57.
Source: Accra Street Journal