GSE-CI Gains as Market Closes Higher; Financial Index Dips Slightly

The Ghana Stock Exchange (GSE) wrapped up the trading week on a relatively upbeat note, with the GSE Composite Index (GSE-CI) rising modestly by 10.02 points to close at 6,424.90. This translates to a weekly gain of 0.16%, driven largely by positive movement in non-financial counters.

However, the GSE Financial Stocks Index (GSE-FSI) dipped slightly, shedding 0.90 points to end the week at 3,428.97, down 0.03% from the previous session.

Despite the financial sector’s pause, both indices continue to post strong year-to-date returns. The GSE-CI is now up 31.43% in 2025, while the GSE-FSI remains a market leader with an impressive 44.03% growth since the start of the year, signaling investor confidence in Ghana’s banking and insurance equities.

Trading Activity Surges Midweek

The highlight of the week came on Wednesday, July 9, when trading volumes peaked at 1.85 million shares, and market turnover reached GH₵5.36 million, the highest for the week. The surge was driven by block trades and renewed investor interest in select counters, likely linked to mid-year portfolio rebalancing and dividend positioning.

In total, over 3.6 million shares changed hands during the week, with a cumulative value traded crossing GH₵15.76 million. Friday’s session saw a closing rally, pushing the GSE-CI to its highest level of the week, supported by last-minute bargain hunting.

Market Cap Adds Nearly GH₵150 Million

The GSE’s total market capitalization advanced from GH₵139.41 billion on Monday to GH₵139.56 billion by Friday, reflecting a net gain of GH₵149.95 million over the week. This upward move underlines the stability of equity valuations amid ongoing macroeconomic shifts and foreign exchange uncertainties.

Market Movers: Weekly Price Changes on the GSE

During the week, several equities recorded notable price movements, reflecting a mix of investor sentiment and sector-specific dynamics.

GCB Bank Ltd. (GCB) ended the week lower at GH₵9.47, down from GH₵9.90 earlier in the week, marking a decline of 43 pesewas as profit-taking activity set in after recent gains. MTN Ghana (MTNGH) saw modest upward movement, rising by 3 pesewas to close at GH₵3.01 from a previous close of GH₵2.98, signaling cautious investor optimism.

Access Bank Ghana (ACCESS) posted one of the strongest performances for the week, gaining GH₵1.44 to end at GH₵16.39, up from GH₵14.95. The stock continued its recent recovery trajectory, attracting renewed attention. Ghana Oil Company (GOIL) also saw a slight uptick, moving from GH₵2.01 to GH₵2.05, supported by steady demand in the energy sector.

TotalEnergies Marketing Ghana (TOTAL) recorded a sharp increase of GH₵3.00, closing the week at GH₵33.25. The price jump was largely attributed to limited supply and selective interest from institutional investors. Republic Bank Ghana (RBGH) gained 7 pesewas during the week to close at GH₵0.79, driven by retail investor activity.

Meanwhile, the Ghanaian Gold ETF (GLD) experienced some midweek volatility but rebounded strongly to end at GH₵360.98. This represented a net gain of GH₵6.22 from its earlier position at GH₵354.76, reflecting improved sentiment around gold-linked assets.

These movements contributed to the broader trends seen in the market, where select non-financial and commodity-based stocks helped lift the GSE-CI, even as the financial index saw slight weakness.

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