The Ghana Stock Exchange closed one of its final trading sessions of the year on a firmly positive note, reinforcing investor optimism as equities capped an extraordinary run.
Despite a slowdown in trading activity, market indicators remained resilient, reflecting strong year-to-date gains and sustained confidence in select blue-chip stocks.
Market activity on the first weekday of trading saw 21 listed equities participate, with three stocks recording gains and none posting losses. This outcome, though modest on the surface, underscored a bullish undertone that has defined the GSE’s performance in recent weeks.
Ghana Oil Company emerged as the session’s top gainer, posting a 0.34 percent increase to close at GHS 2.96 per share. Standard Chartered Bank followed with a 0.21 percent appreciation, while GCB Bank added 0.05 percent to its share price. The absence of decliners highlighted the cautious but confident positioning of investors as the year draws to a close.
MTN Ghana Leads Trading Volumes
Activity on the volume front was dominated by MTN Ghana, which recorded the highest number of traded shares at 274,595. The telecoms giant continues to attract investor interest due to its strong fundamentals, consistent dividend history, and dominant position in the market.
CalBank followed closely with 235,027 shares traded, while Ecobank Transnational recorded a volume of 88,601 shares. SIC Insurance Company also featured among the most active counters, with 15,171 shares changing hands. These figures point to selective investor participation, with attention focused on stocks perceived as stable and growth oriented.
Market Indices Maintain Upward Momentum
The benchmark GSE Composite Index inched up by 1.14 points, representing a 0.01 percent increase, to close at 8,757.11 points. While the daily gain appeared marginal, it contributed to a one-week gain of 0.13 percent and a four-week gain of 1.7 percent. More significantly, the index has recorded a remarkable year-to-date gain of 79.14 percent, marking one of its strongest performances in recent history.
This sustained rally reflects improved investor sentiment, supported by easing macroeconomic pressures, declining inflation expectations, and improved earnings prospects for listed companies. The performance also highlights the renewed attractiveness of equities relative to other asset classes.
The GSE Financial Stocks Index also posted a marginal gain of 0.02 percent to close at 4,629.80 points. This translated into a one-week gain of 0.29 percent and a four-week gain of 3.79 percent. On a year-to-date basis, the financial index has surged by an impressive 94.46 percent.
Banks and financial institutions have been key drivers of the market’s resurgence, benefiting from balance sheet restructuring, improved asset quality, and a gradual recovery in credit activity. The strong showing of financial stocks has reinforced their role as anchors of market stability and growth.
The total market capitalisation of the Ghana Stock Exchange stood at GHS 171.9 billion, underscoring the significant value creation achieved over the course of the year. This figure reflects both price appreciation and renewed investor participation across key sectors of the market.
The sustained expansion in market capitalisation signals growing confidence in the exchange as a platform for long-term investment and capital formation, particularly as Ghana continues its broader economic recovery efforts.
Trading Activity Slows but Sentiment Holds
At the close of trading, a total of 639,489 shares were exchanged, corresponding to a market value of GHS 1.74 million. Compared with the previous trading session on Wednesday, December 24, this represented a 20 percent decline in volume and an 86 percent drop in turnover.
Market analysts attribute the slowdown largely to seasonal factors, as many investors scale back activity ahead of year-end holidays. Despite the reduced turnover, the absence of sell-offs suggests that market participants remain comfortable holding their positions, anticipating further upside in the medium to long term.
As the curtain falls on the trading year, the Ghana Stock Exchange appears poised to carry its bullish momentum into the new year. Strong year-to-date gains, improving macroeconomic indicators, and resilient corporate performance have combined to restore investor confidence.
While short-term volatility cannot be ruled out, particularly amid global economic uncertainties, the underlying fundamentals of the market suggest a cautiously optimistic outlook. For many investors, the year-end rally is not just a celebration of past gains but a signal of renewed belief in the long-term prospects of Ghana’s equity market.
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