The Ghana Stock Exchange’s benchmark index climbed 75.99 percent in the seven months to July, even as the volume of shares changing hands fell by nearly three-quarters compared with the same period last year, according to the exchange’s July market summary.
The Composite Index and the Financial Stock Index returned 75.99 percent and 77.27 percent respectively for the year to date, the GSE reported, with market capitalisation reaching GHS292.5 billion, more than double the GHS146.1 billion recorded a year earlier. Yet July’s equity volume of 100.4 million shares, worth GHS683.5 million, came in 71.98 percent lower in volume and 60.50 percent lower in value than July 2025 — a gap that points to fewer, larger price moves driving the rally rather than heavier trading.
The exchange recorded 140,323 transactions during the month, a 456.44 percent jump from the same period last year, meaning far more individual trades pushed through a smaller pool of shares. That combination, sharply higher deal count against sharply lower volume, suggests retail-sized trading activity intensified even as the big-block transactions that typically move volume figures pulled back.
Price gains were led by smaller, thinly traded counters. Intravenous Infusions PLC topped the gainers’ list with a 367 percent monthly rise, followed by Hords PLC at 255 percent and Clydestone (Ghana) PLC at 61 percent. Established heavyweights posted more modest gains: Ecobank Ghana PLC rose 16 percent, Scancom PLC 11 percent and GCB Bank PLC 8 percent, while TotalEnergies Marketing Ghana PLC and CalBank PLC each added 1 percent. On the losing side, Atlantic Lithium Ltd fell 25 percent and Ecobank Transnational Inc dropped 15 percent, the steepest declines of the month.
Compared with June, the equity market showed a more conventional pickup: volume rose 9.62 percent and value climbed 35.72 percent month-on-month, alongside a 4.83 percent gain in the Composite Index.
The Ghana Fixed Income Market outpaced equities in raw growth. July trading volume reached GHS34.87 billion, up 68.98 percent from June and 62.78 percent year-on-year, with Treasury Bills making up 47.16 percent of turnover and government notes and bonds accounting for 51.41 percent. Year-to-date fixed income volume hit GHS255.77 billion, nearly double the GHS129.66 billion traded over the same period in 2025.
The GSE held its 36th Annual General Meeting on 31 July at the Labadi Beach Hotel in Accra. The exchange also hosted Letshego Ghana Savings and Loans PLC for a “Facts Behind the Figures” session, where the lender reported profit before tax rising to GHS67 million for the half-year ended 30 June, up from GHS24 million, alongside a return on equity that improved to 33 percent from 23 percent. MTN Ghana, FanMilk, Bayport Savings and Loans, and Camelot PLC are scheduled for the same programme in August.
