Accra’s financial hub buzzed with activity on Tuesday as the Ghana Stock Exchange (GSE) recorded its highest trading volume in weeks, with over 2 million shares changing hands in a session marked by bullish momentum and selective profit-taking.
The surge, nearly double Monday’s 1.03 million shares, propelled the benchmark GSE Composite Index (GSE-CI) to 5,622.92 points, while market capitalization climbed to GH¢127.4 billion, reflecting renewed investor confidence in equities.
Telecom giant MTN Ghana (MTNGH) dominated trading floors, with 1.4 million shares traded despite a marginal 0.3% dip to GH¢2.89 per share. Analysts attributed the high volume to strategic repositioning by institutional investors ahead of quarterly earnings reports. CAL Bank (CAL) followed as the second-most active stock, with 416,333 shares exchanged, closing at GH¢0.56 after a 9.8% rally—a sign of growing appetite for banking stocks.
The gold-backed NewGold ETF (GLD) emerged as a standout performer, gaining GH¢0.91 to settle at GH¢438.90 per share amid broader commodity market optimism. The rally lifted its total trade value to GH¢752,282, underscoring its appeal as a hedge against currency volatility.
Sector-wide, financial stocks buoyed the market, lifting the Financial Stock Index to 2,809.97 points. Ecobank Transnational Incorporated (ETI) edged up 2.8% to GH¢0.72, while SIC Insurance (SIC) rose 9.6% to GH¢0.34. CAL Bank’s GH¢0.05 gain cemented its position as a top mover, reflecting renewed interest in mid-tier lenders.
Market watchers noted the session’s mixed signals. While MTN Ghana’s slight decline hinted at profit-taking, the broader uptrend suggested investors are capitalizing on undervalued stocks ahead of fiscal policy updates. “The financial sector’s rally indicates expectations of stable interest rates and improved liquidity,” said Kwame Asante, an Accra-based equity analyst. “But sustaining this momentum depends on macroeconomic stability and corporate earnings delivery.”
Tuesday’s trading frenzy marks a sharp reversal from recent sluggish activity, raising questions about whether the rally can endure. With inflation easing and the cedi showing tentative stability, retail investors are cautiously re-entering equities—a shift that could reshape market dynamics in the weeks ahead.
As the GSE approaches month-end, all eyes are on regulatory developments and corporate disclosures to determine if this surge is a fleeting spike or the start of a sustained rebound. For now, traders are betting on volatility, with MTN Ghana’s liquidity and NewGold’s resilience offering dual avenues for risk-averse and opportunistic players alike.
