The Ghana Stock Exchange (GSE) opened the week with robust trading activity on Monday, May 5, 2025, as gains in telecom giant MTN Ghana lifted the benchmark Composite Index despite a slump in gold-linked securities.
The GSE Composite Index climbed 74.65 points to close at 6,288.99, extending its year-to-date gain to 28.65%, while the Financial Stocks Index held steady at 3,129.19, up 31.43% since January.
MTN Ghana (MTNGH) spearheaded the rally, rising 7 pesewas to GH¢3.19 per share, just shy of its 52-week high of GH¢3.20. The telecom heavyweight dominated trading volumes, with over 1 million shares exchanged at a value of GH¢3.2 million, reflecting strong investor confidence in its market leadership and growth prospects.
Contrasting this performance, the NewGold ETF (GLD) fell GH¢2.58 to GH¢438.50 amid broader volatility in global gold prices. Despite the dip, GLD accounted for the day’s highest transaction value at GH¢10.9 million, underscoring its continued appeal as a hedge against currency fluctuations.
Other notable movers included Fan Milk PLC (FML), which saw 160,425 shares traded at a flat price of GH¢3.80, signaling potential institutional accumulation. Ecobank Transnational Inc. (ETI) and Cal Bank (CAL) recorded steady activity with 51,124 and 7,486 shares traded respectively, though their prices remained unchanged. Dannex Ayrton Starwin (DASPHARMA) also drew modest interest, with 13,000 shares exchanged at GH¢0.38.
Total market turnover reached 1.26 million shares valued at GH¢14.78 million, pushing market capitalization to GH¢138.67 billion. Analysts noted that the mixed yet active trading reflects growing market liquidity and diversification, with investors balancing risk across sectors.
The session highlighted shifting priorities among market participants, with telecoms and consumer goods attracting strategic bets even as commodities faced headwinds. Ghana’s equity market has emerged as a bright spot in West Africa this year, buoyed by stable macroeconomic policies and renewed foreign interest in non-resource sectors. However, sustainability hinges on maintaining fiscal discipline and deepening capital market reforms to align with regional integration goals under the African Continental Free Trade Area.
