The Ghana Stock Exchange closed higher Friday as the NewGold ETF posted significant gains, helping lift benchmark indices despite reduced trading activity across much of the market. The GSE Composite Index rose 72.82 points to 7,269.40, while trading volume fell to 689,448 shares valued at GH¢3.92 million.
NewGold ETF dominated Friday’s session, surging GH¢45.33 to close at GH¢453.25 and accounting for the largest share of trading value at GH¢1.28 million. The gold-backed exchange-traded fund tracks the gold spot price and provides investors with exposure to approximately 1/100th ounces of gold bullion, making it sensitive to global precious metals movements.
The strong performance in NewGold ETF reflects continued investor interest in gold exposure amid global economic uncertainty. The ETF has emerged as a dominant trading force on the Ghana Stock Exchange, often accounting for significant portions of daily trading activity and has delivered substantial returns for investors this year.
Total Petroleum Ghana also posted notable gains, rising GH¢3.03 to GH¢35.00, while Fan Milk gained GH¢0.21 to GH¢4.62. MTN Ghana, one of the market’s most liquid stocks, advanced GH¢0.04 to GH¢3.74 with trading value of GH¢1.80 million making it the second most actively traded stock by value.
However, the broader market showed limited participation, with many major stocks recording zero trading activity. Notable companies including AngloGold Ashanti, GCB Bank, Ecobank Ghana, and Tullow Oil saw no transactions during the session.
The Ghana Alternative Market experienced complete inactivity, with all listed companies including Samba Foods, Meridian Marshalls, and Hords recording no trades or price movements. This pattern reflects ongoing challenges in generating investor interest in smaller-cap stocks on the exchange.
Recent market data has shown volatile trading patterns, with previous sessions experiencing sharp declines in both volume and turnover. Friday’s session, while showing positive price action in key stocks, continued the trend of concentrated trading activity in a limited number of securities.
Market capitalization stood at GH¢149.04 billion, reflecting the modest gains in benchmark indices. The GSE Financial Stocks Index also posted gains, rising 1.27 points to 3,478.32, though both major indices remain only marginally positive for the year with gains below one percent.
The concentrated nature of Friday’s trading highlights ongoing liquidity challenges facing the Ghana Stock Exchange. While certain stocks like NewGold ETF and MTN Ghana continue to attract investor interest, many listed companies struggle to generate regular trading activity.
The exchange has faced significant volatility in trading volumes, with August 2025 recording an 87% drop in trading activity compared to July, underscoring the challenges facing Ghana’s capital markets in maintaining consistent investor engagement.
Despite these headwinds, Friday’s session demonstrated that selected securities can still generate substantial investor interest and price movements. The performance of NewGold ETF particularly reflects the continued appeal of commodity-linked investments among Ghanaian investors seeking portfolio diversification.
Looking ahead, market participants will be watching for signs of broader participation beyond the handful of actively traded stocks that currently drive most of the exchange’s daily activity. The concentration risk in trading activity remains a key challenge for market development.
Source: newsghana.com.gh
