The Ghana Stock Exchange (GSE) recorded modest gains in its May 6, 2025, trading session, with the benchmark GSE Composite Index rising 0.36% to close at 6,311.45 points.
The Financial Stocks Index also inched upward by 0.05%, reflecting cautious optimism amid mixed activity across sectors. Trading volumes declined sharply to 321,415 shares valued at GH¢2.03 million, down from 1.26 million shares worth GH¢14.78 million the previous day, signaling investor hesitancy amid broader economic uncertainties.
Scancom PLC (MTNGH) dominated trading activity, with 236,536 shares exchanged at GH¢3.21 each, marking a slight uptick of GH¢0.02. Access Bank Ghana (ACCESS) rose 0.88% to GH¢9.20, while Ecobank Transnational Inc. (ETI) held steady at GH¢0.90 with 33,197 shares traded. Notable laggards included Agricultural Development Bank (ADB) and Standard Chartered Bank Ghana (SCB), which remained flat at GH¢5.06 and GH¢26.20, respectively.
Dividend announcements influenced select stocks, with Unilever Ghana (UNIL) maintaining its GH¢19.54 closing price after declaring a GH¢0.60 per share dividend for 2024. Benso Oil Palm Plantation (BOPP), which recently proposed a GH¢0.9085 per share dividend, saw no trading activity but retained its GH¢29.75 valuation. The NewGold ETF (GLD), tracking gold prices, surged 3.0% to GH¢441.50, underscoring investor appetite for commodity-linked assets amid global market volatility.
Earnings metrics revealed sectoral challenges, as Aluworks (ALW) reported a negative earnings per share (EPS) of GH¢0.32, while Clydestone Ghana (CLYD) posted a modest GH¢0.33 EPS. Year to date, the GSE Composite Index has gained 0.29%, reflecting gradual recovery efforts in a market still navigating inflationary pressures and fluctuating oil prices.
Ghana’s equity market has historically mirrored regional trends, where subdued trading often precedes fiscal policy shifts or corporate earnings cycles. The current environment, marked by reduced liquidity and selective investor engagement, highlights the balancing act between cautious optimism and macroeconomic headwinds. While sectors like telecommunications and banking show resilience, manufacturing and energy firms continue to face structural challenges.
As the exchange approaches mid-2025, stakeholders remain watchful for signals that could reinvigorate participation, such as stabilizing inflation or clearer corporate growth trajectories. For now, the incremental gains suggest a market in wait-and-see mode, where stability in dividend-paying stocks and commodity ETFs offers a tentative anchor amid broader uncertainty.
