GSE Weekly Wrap: Composite Index Dips Despite Friday’s Turnover Surge

The Ghana Stock Exchange (GSE) closed the week of July 14–18 on a volatile note, ending with a dip in the benchmark index despite a late surge in market activity. While investor confidence in the equity market remains broadly intact, Friday’s sharp turnover was not enough to offset losses sustained across selected counters during the week. 

The market appeared to be recalibrating after months of bullish sentiment, as investors responded to valuation pressures and rotated their positions.

The GSE Composite Index (GSE-CI), which tracks the performance of all listed equities, dropped by 50.7 points on Friday alone, from 6,437.46 to 6,386.76, marking one of the steepest single-day declines in recent weeks. 

Nonetheless, the broader outlook remains resilient, with the index still up 30.65% year-to-date. Financial stocks, as measured by the GSE Financial Stocks Index (GSE-FSI), posted a marginal 3.63-point gain to 3,417.71, maintaining their dominance with a 43.55% gain since the start of 2025.

Market participation was uneven throughout the week but culminated in a dramatic spike in volume and value on Friday. Over 6.8 million shares changed hands on the final trading day, generating nearly GH¢21 million in turnover, more than the combined value of the four preceding sessions. The surge was driven largely by bulk trades in MTN Ghana, which continues to dominate market liquidity.

Trading during the week also saw a flurry of price adjustments across several equities, reflecting cautious optimism and stock-specific news flows. Notably, MTN Ghana (MTNGH), the week’s most actively traded equity, experienced a brief uptick midweek but closed Friday at GH¢2.98, marking a 5-pesewa drop from Thursday’s close and signaling some late profit-taking after early gains.

RBGH emerged as one of the week’s consistent gainers, rising from GH¢0.79 on Tuesday to GH¢0.90 by Friday, gaining a total of 11 pesewas across three consecutive sessions. Similarly, Standard Chartered Bank (SCB) advanced by 12 pesewas on Wednesday to close at GH¢28.00, while TotalEnergies Marketing Ghana (TOTAL) held steady throughout the week despite underlying sector volatility.

The GLD (NewGold ETF) was among the most volatile counters. It jumped by GH¢5.19 on Monday, dipped GH¢2.71 on Wednesday, then rebounded with a GH¢1.80 gain on Friday to close the week on a high at GH¢364.60. This price pattern closely mirrored global gold market movements, reflecting investor hedging behavior in response to currency market uncertainty and geopolitical jitters.

Other notable movers included CLYD, which gained a pesewa to close at GH¢0.09, and TBL, which rose by 9 pesewas on Thursday to hit GH¢1.00. 

On the losing side, SIC Insurance dipped marginally by 1 pesewa, while Ecobank Transnational Inc. (ETI) shed 3 pesewas over two sessions, ending the week at GH¢0.82. Enterprise Group and UNIL also recorded minor pullbacks of 1 pesewa each, suggesting selective sell-offs in defensive plays.

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