After a lukewarm start to the week, the Ghana Stock Exchange (GSE) witnessed a powerful resurgence by midweek, as bullish sentiment swept across the trading floor.
Investors were treated to an impressive rally marked by widespread gains, increased trading volume, and a rebound in investor confidence—despite some downward pressure on select market indices.
The GSE opened the week on a subdued note, but bullish momentum took hold midweek, leading to a remarkable recovery. Out of the 19 equities that participated in trading, six recorded gains while only three suffered losses. The turnaround was led by Benso Oil Palm Plantation (BOPP), which stole the spotlight with a 9.9% appreciation in share price, closing at GHS 34.20 per share.
Following closely was GCB Bank, which recorded a robust gain of 8.91%. Access Bank Ghana and Ghana Oil Company also impressed with respective share price increases of 7.54% and 6.11%. These performances not only signaled a return of investor optimism but also underlined the resilience of the market’s top-performing stocks.
While the bulls roared, a few equities found themselves on the losing end. Ecobank Transnational Inc. (ETI) was the biggest casualty of the day, shedding 2.3% to close at GHS 0.85 per share. MTN Ghana followed with a 1.74% decline, and CalBank also slipped by 1.72%.
Despite these losses, the broader narrative was one of strength and recovery, particularly within the financial sector where gains in GCB and Access Bank helped offset the losses in CalBank and ETI.
Mixed Performance on Market Indices
The benchmark GSE Composite Index (GSE-CI), which tracks the overall performance of the market, did shed 25.37 points—equivalent to a 0.42% dip—ending the session at 6,012.29 points.
This reflects a weekly decline of 3.27% and a monthly loss of 4.74%. However, in year-to-date terms, the index is still up a commendable 22.99%, suggesting that the market has been largely bullish in 2025 despite recent volatility.
In contrast, the GSE Financial Stocks Index (GSE-FSI), which specifically tracks financial sector equities, surged by 0.69% to close at 3,244.81 points. This represents a 1-week gain of 1.69%, a 4-week gain of 3.64%, and a notable year-to-date growth of 36.29%, making financial stocks some of the most attractive investment options on the GSE this year.
Trading Activity Soars
The trading volume and turnover figures painted a picture of heightened investor participation. A total of 1,927,636 shares were traded, corresponding to a market value of GHS 5,105,908.51. Compared to the previous trading session on Monday, June 2, the market recorded a staggering 359% increase in volume and a 243% increase in turnover—a clear indication that bullish investors were back in full force.
MTN Ghana led in trading volume with over 1.61 million shares changing hands, despite its decline in share price. CalBank followed with 199,812 shares, while Ecobank Transnational and Ghana Oil Company traded 63,758 and 14,002 shares, respectively.
Interestingly, even with the strong bullish sentiment, the market capitalization of the Ghana Stock Exchange declined by over GHS 300 million, settling at GHS 134.2 billion. This paradox suggests that while several key stocks gained, the overall weight of losses from some high-cap stocks may have slightly dragged down total market value.
Outlook
The bulls have made a roaring comeback, and confidence appears to be returning among investors. With financial stocks leading the charge and strong performances from industrial equities like Benso Oil Palm, the GSE seems poised for further growth if the momentum holds.
However, the market remains sensitive to both domestic economic indicators and global trends. Investors are advised to watch out for macroeconomic developments, interest rate adjustments, and corporate earnings reports, all of which could impact the GSE’s trajectory in the coming weeks.
As the GSE continues its 2025 run, one thing is clear—when the bulls roar, the market listens.
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