GSE Ends August with Strong Liquidity Despite Index Dip

The Ghana Stock Exchange (GSE) wrapped up the final week of August with a mixed performance, as traders balanced profit-taking with renewed interest in commodity-linked and banking stocks. Activity was choppy across the sessions, but a dramatic surge in value on Friday ensured the market closed the week on a lively note, even though the main index drifted marginally lower.

Trading opened quietly on Monday, with just over 239,000 shares worth GH¢706,000 changing hands. The market gradually gathered pace midweek, but the real spark came on Friday when turnover rocketed to GH¢9.5 million, the highest for the week, driven by large transactions in the NewGold ETF (GLD). In total, more than 2.1 million shares valued at GH¢15.5 million were exchanged during the week, highlighting both the cautious start and the strong finish.

Despite the burst of activity, the overall market closed weaker. The GSE Composite Index (GSE-CI) slipped by 18.28 points to settle at 7,330.37 points, compared to 7,348.65 points at the start of the week. That decline shaved about GH¢330 million off market capitalization, leaving it at GH¢149.60 billion by Friday’s close. The GSE Financial Stocks Index (GSE-FSI), however, was unchanged at 3,411.96 points, reflecting relative calm among the financial counters.

Beneath the index dip, however, several equities delivered notable gains. GLD stole the spotlight, rallying from GH¢378.53 earlier in the week to GH¢396.70 by Friday, supported by both global gold price movements and investor appetite for safe-haven assets. The ETF also accounted for nearly half of the week’s market value, cementing its dominance in trading.

Banking stocks were another bright spot. GCB Bank climbed to GH¢10.01, Ecobank Ghana advanced to GH¢9.02, while CAL Bank, Republic Bank and Standard Chartered also edged higher, pointing to renewed investor confidence in the sector. Oil marketing firm GOIL continued its steady rise, finishing the week at GH¢2.31, a modest but consistent gain that underlined its resilience.

On the losing side, MTN Ghana, the market’s bellwether stock, slipped slightly to GH¢3.87, despite being the most heavily traded equity with nearly half a million shares exchanging hands. Ecobank Transnational (ETI) and Access Bank Ghana also recorded mild declines, trimming some of the week’s overall advances.

The week captured the push and pull between cautious investors taking profits and those positioning in banks, oil, and gold-backed assets. The modest dip in the Composite Index suggests profit-taking weighed just enough to tip the market red, but the broader picture remains remarkably strong: as of August 29, the GSE-CI is still up 49.95% year-to-date.

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