Financials Steady as Commodities Drag: Ghana Stock Exchange Closes Week Mixed

The Ghana Stock Exchange (GSE) ended the week of October 10, 2025, on a mixed note, as investor activity swung between cautious optimism and selective profit-taking. 

Financial stocks held their ground, but a slump in commodity-linked securities, especially the NewGold ETF, tempered overall market sentiment.

Trading opened the week on a modest footing with just over 3.1 million shares valued at GH¢39.2 million changing hands on Monday. Activity surged on Tuesday, the week’s most active session, as investors moved nearly 9.9 million shares worth GH¢46.1 million, largely driven by institutional block trades. 

Momentum, however, eased midweek; Wednesday’s volume fell sharply to 1.5 million shares, and though Thursday saw a mild rebound in activity, values slipped to GH¢16.3 million. The week ended quietly on Friday, with only 285,416 shares traded for GH¢2.2 million, reflecting subdued participation and cautious positioning.

Despite the slowdown, market indicators held relatively firm. The GSE Composite Index (GSE-CI) inched up to 8,488.81 points, while the Financial Stocks Index (GSE-FSI) edged to 3,949.15 points. Total market capitalization rose to GH¢166.7 billion, adding about GH¢751.9 million over the week, an indication that investor confidence remained broadly positive even amid uneven trading.

Price movements were mixed across listed equities. CalBank, Standard Chartered Bank Ghana, and SIC Insurance all advanced modestly, while MTN Ghana and the NewGold ETF declined. The nearly 3 percent dip in NewGold mirrored falling global gold prices, underscoring how global commodity dynamics continue to influence local market trends.

Cumulatively, the GSE Composite Index has gained 73.65 percent year-to-date, while the Financial Stocks Index has risen 65.88 percent, signaling that investors are still finding value in Ghanaian equities, particularly in the banking and insurance sectors.

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