The Ghana Stock Exchange (GSE) opened the new trading week on a mixed note, reflecting both investor caution and optimism.
While the trading volume saw a slight decline, improved turnover and notable gains in key market indices paint a brighter outlook for the country’s capital market.
On Monday, May 5, 2025, the GSE recorded a total of 1,262,596 shares traded, translating into a market value of GHS 14,777,216.82. This marked a 6% decline in trading volume compared to the previous trading day on Friday, May 2. However, the market registered a significant 79% increase in turnover, indicating increased investor interest in high-value stocks despite the lower volume of shares exchanged.
The trading session featured 14 listed equities, reflecting the continued participation of a diverse mix of companies on the exchange. Market activity was largely driven by MTN Ghana, with a few other stocks contributing to the day’s performance.
MTN Ghana Leads with Impressive Gains
MTN Ghana (MTNGH) emerged as the only gainer during the session, registering a 2.24% increase in its share price. The stock closed at GHS 3.19, up from its previous closing of GHS 3.12. This gain reinforces MTN’s strong performance in 2025, where the stock has already appreciated by 27.6% year-to-date. Over the past four weeks alone, MTN Ghana has seen a 6% increase, placing it eighth among all GSE-listed companies in terms of short-term performance.
MTN’s momentum is also evident in trading volume. It remains the most actively traded stock on the GSE in 2025, with a total of 51.5 million shares traded between January 29 and May 5, valued at GHS 155 million. The company has averaged 817,319 shares per session, with a high of 11.5 million shares traded on February 26, and a low of 6,096 shares on January 31.
On the losing end was NewGold ETF (GLD), which shed 0.58% of its value. The ETF closed at GHS 438.50, down from GHS 441.08, reflecting a GHS 2.58 drop. Despite this short-term dip, NewGold ETF remains 12.3% up year-to-date, ranking it 14th on the GSE’s performance chart. However, recent performance has been lackluster, with the ETF losing 6% of its value in the past four weeks, signaling potential concerns for cautious investors.
Index Performance Signals Growing Investor Confidence
Despite mixed stock performances, the benchmark GSE Composite Index (GSE-CI) showed a strong uptick, increasing by 74.65 points (1.2%) to close at 6,288.99. This marks a 1-week gain of 3.75%, a 4-week gain of 4.09%, and a remarkable year-to-date growth of 28.65%. Such consistent gains underscore the market’s resilience and the growing confidence among investors.
Similarly, the GSE Financial Stocks Index (GSE-FSI) held steady at 3,129.19 points, maintaining its previous value. However, the index still reflects an impressive 1-week gain of 1.12%, a 4-week gain of 2.26%, and an outstanding year-to-date gain of 31.43%. This suggests that financial stocks, a cornerstone of the exchange, continue to drive market growth.
The current market capitalization of the Ghana Stock Exchange stands at GHS 138.7 billion, a testament to its growing influence and attractiveness as a financial hub in West Africa. As the GSE continues to post strong index performances, investor sentiment appears to be on an upward trajectory despite the isolated dip in trading volume.
With key stocks like MTN Ghana demonstrating consistent growth and financial stocks maintaining strong index performance, the GSE is well-positioned for sustained momentum in the coming weeks. While investors are advised to keep an eye on lagging assets like NewGold ETF, the broader market picture remains encouraging.
The opening session of the week on the Ghana Stock Exchange reveals a market that is both dynamic and resilient. Although trading volumes have slightly decreased, the substantial increase in turnover and impressive index gains point to a market that is gradually strengthening. As investor optimism builds on the back of strong year-to-date gains and dominant performances by blue-chip stocks, the GSE continues to reinforce its reputation as a leading exchange in Africa.
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