Following the Easter holidays, the Ghana Stock Exchange (GSE) reopened trading with a strong bullish sentiment that saw equities gaining ground across the board.
In an impressive market showing, five stocks recorded gains, with no equities registering losses—a rare and noteworthy occurrence that has drawn optimism among investors and market watchers alike.
Out of the nine equities that participated in post-Easter trading, five ended the session in positive territory. Leading the pack was Benso Oil Palm Plantation (BOPP), which saw a remarkable 9.98% appreciation in its share price, closing at GHS 29.75 per share. The company’s strong fundamentals and consistent earnings growth have made it a darling among investors, and this performance further cements its position as one of the GSE’s top gainers this year.
SIC Insurance Company followed with a healthy 6.06% gain, demonstrating renewed investor confidence in the financial and insurance sector. NewGold ETF and Enterprise Group also made positive strides, with gains of 3.64% and 2.71% respectively, highlighting a broad-based bullish performance that touched various sectors of the market.
Perhaps more telling of the bullish resurgence was the complete absence of losers—none of the traded stocks recorded a decline. This points to a well-supported market rally driven by strong investor participation and positive sentiment following the holiday break.
Trade Volumes Surge
Market activity was equally impressive. The GSE recorded a total volume of 2,057,097 shares traded, translating into a market value of GHS 6,166,423.26. This represents a staggering 490% increase in traded volume and a 324% improvement in turnover compared to the last trading session before Easter on Thursday, April 17.
Leading the charge in volume was MTN Ghana, which traded a massive 1.75 million shares, reaffirming its position as the most actively traded stock on the local bourse. Ecobank Transnational Inc. (ETI) followed with 275,506 shares, while Enterprise Group and SIC Insurance Company recorded 12,899 and 6,143 shares traded, respectively.
The sharp increase in both volume and value underscores the renewed investor interest in the market, likely fueled by a mix of attractive valuations, positive earnings reports, and a generally upbeat economic outlook.
Market Indices Edge Higher
The bullish sentiment reflected positively on the GSE’s benchmark indices. The GSE Composite Index (GSE-CI) rose by 10.24 points (0.17%), closing at 6,052.53 points. While this marks a 1-week loss of 0.79% and a 4-week decline of 1.66%, the index still boasts an impressive year-to-date gain of 23.81%—a testament to the underlying strength of the Ghanaian equity market.
Similarly, the GSE Financial Stocks Index (GSE-FSI) gained 0.12%, ending at 3,088.89 points. This translates to a 1-week gain of 0.86%, a 4-week gain of 1.98%, and an even more impressive year-to-date return of 29.74%, highlighting the resilience of financial sector stocks amidst broader market fluctuations.
Market Capitalization and Outlook
With these gains, the market capitalization of the Ghana Stock Exchange currently stands at GHS 135.4 billion, a figure that reflects the combined market value of all listed equities. The solid performance witnessed in this post-Easter session indicates that investors are regaining confidence, especially as macroeconomic indicators point to potential stability in the second quarter of the year.
Analysts believe that the absence of market losers and the presence of solid gainers across different sectors suggest that the GSE could be entering a new phase of growth. However, they also caution that global economic headwinds, policy shifts, and inflationary pressures could still pose risks to the sustained momentum.
If current trends continue, investors could see more positive surprises in the coming weeks, cementing 2025 as a potentially strong year for equity markets in Ghana.
