Ghana’s equities market wrapped up the final weekday of trading on a positive note, reinforcing investor confidence despite relatively modest activity.
At the close of the session on the Ghana Stock Exchange, a total of 8,772,538 shares were traded, translating into a market value of GHS 50,899,281.10. While participation remained measured, the figures represented a notable improvement over the previous trading day, signaling renewed interest across select counters.
Compared with trading on Thursday, January 22, market data showed an 8 percent improvement in trading volume and a significant 51 percent jump in turnover. This sharp rise in value traded, despite only a marginal increase in volume, suggested heightened activity in relatively higher priced stocks and stronger positioning by institutional investors as the week drew to a close.
Limited Equities, Positive Sentiment
In total, 23 listed equities participated in the day’s trading session. Market breadth leaned firmly positive, with two gainers recorded and no decliners. This outcome underscored the generally upbeat sentiment prevailing on the exchange, even in the absence of widespread price movements across the board.
The gainers for the session were GCB Bank and Ecobank Ghana. GCB Bank led the advances, appreciating by 1.48 percent, while Ecobank Ghana posted a marginal gain of 0.03 percent. The absence of losing stocks was particularly notable, as it reflected stability in prices across most counters amid cautious but optimistic investor behavior.
MTN Ghana emerged as the most actively traded stock of the day, accounting for the bulk of market activity. The telecoms giant recorded a traded volume of approximately 6.65 million shares, far outpacing all other equities on the exchange. MTN Ghana’s dominance in volume continues to highlight its status as one of the most liquid and closely watched stocks on the GSE.
Following MTN Ghana, CalBank recorded a traded volume of about 1.08 million shares, while GCB Bank saw around 1 million shares change hands. Societe Generale Ghana also featured among the active counters, albeit with a significantly lower volume of 20,126 shares. Together, these trades shaped the overall market performance and contributed to the improved turnover recorded during the session.
Indices Close Higher Across the Board
The positive close was also reflected in the performance of the key market indices. The benchmark GSE Composite Index inched up by 6.83 points, representing a gain of 0.08 percent, to close at 8,976.64 points. Although the daily movement was modest, it reinforced a broader upward trend that has been building over recent weeks.
On a weekly basis, the Composite Index recorded a gain of 1.88 percent. Over the past four weeks, the index has advanced by 2.48 percent, while the year to date performance now stands at a positive return of 2.35 percent. These figures point to a steadily improving market environment, supported by selective buying and improving confidence in macroeconomic conditions.
The GSE Financial Stocks Index also ended the session in positive territory. The index rose by 0.18 percent to close at 4,892.35 points. This performance translated into a strong one week gain of 4.37 percent, a four week gain of 5.27 percent, and a year to date increase of 5.28 percent. The continued strength of the financial stocks index reflects sustained interest in banking and financial services equities, which remain key drivers of market performance.
At the close of trading, the total market capitalization of the Ghana Stock Exchange stood at GHS 178.5 billion. This figure highlights the resilience of the market and its ability to maintain value despite periods of subdued activity. Stable market capitalization, combined with improving index performance, suggests that investors are maintaining their positions while selectively increasing exposure to fundamentally strong stocks.
The upbeat end to the week reinforces expectations that the market could sustain its gradual upward momentum in the near term, particularly if supported by favorable economic data, improved corporate earnings, and continued stability in the macroeconomic environment.
Outlook for the coming sessions
As the new trading week approaches, market watchers are expected to keep a close eye on activity in highly capitalized stocks such as MTN Ghana and the major banks. With no losers recorded in the latest session and key indices maintaining positive trajectories, sentiment remains cautiously optimistic.
While trading volumes may continue to fluctuate, the improved turnover and steady index gains suggest that investors are positioning for medium to long term opportunities. If this trend persists, the Ghana Stock Exchange could see stronger participation and deeper market activity in the weeks ahead.
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