Ghana’s stock market saw a slight increase on Tuesday, with the benchmark GSE Composite Index rising by 0.12% to close at 6,062.20 points. The gains were driven by strong performances in banking and telecom stocks, while the Financial Stocks Index also edged up by 0.08% to 2,894.64 points.
Trading activity picked up significantly, with total market turnover reaching GH¢1.51 million, a 23% increase from the previous session. Scancom PLC (MTNGH) led the market in trading volume, with 262,944 shares changing hands.
Total Petroleum Ghana PLC (TOTAL) recorded the biggest price gain of the day, surging by 10% to GH¢19.92 despite low trading volume. Cal Bank PLC (CAL) also posted a notable increase, climbing 2.6% to GH¢0.80 on high turnover, with 697,795 shares traded.
Meanwhile, the GSE Alternative Market (GAX) remained unchanged, with Samba Foods Ltd (SAMBA) and several other stocks seeing no activity.
The overall market capitalization rose slightly by 0.07% to GH¢133.33 billion, supported by strong performances from major companies such as telecom giant MTNGH, valued at GH¢42.22 billion, and GCB Bank PLC (GCB).
Trading was also active for stocks like Ecobank Transnational Inc. (ETI) and Societe Generale Ghana (SOGEGH), though most equities remained unchanged. Analysts expressed concerns about Aluworks PLC (ALW), which continues to trade at GH¢0.10 amid negative earnings, highlighting the struggles within Ghana’s industrial sector.
Commenting on the market trends, Accra-based trader Kwame Asante noted that while the indices are making slow gains, liquidity remains concentrated in a few key stocks. He added that many investors are waiting for more clarity from the 2025 budget before increasing their risk exposure.
With market activity showing steady improvements, investors will be closely monitoring upcoming economic policies and corporate earnings reports for further market direction.
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