Ghana’s stock market delivered its strongest performance in over a week as the benchmark GSE Composite Index surged 46.68 points to close at 7,316.08 on Monday, marking a notable recovery from recent declines that had pressured the market through early September.
The positive session saw both major indices advance, with the GSE Financial Stocks Index climbing 34.00 points to 3,512.32, as investor sentiment appeared to stabilize following a volatile period for Ghana’s capital markets. The gains pushed both indices into positive territory for the year, with the GSE-CI now showing a 0.50% year-to-date increase.
Trading activity remained concentrated among large-cap stocks, with telecommunications giant Scancom PLC dominating the session. The company’s shares attracted 179,750 trades worth GH¢676,595.37, representing more than half of the day’s total turnover of GH¢1.21 million. Scancom closed 0.53% higher at GH¢3.76 per share.
Fan Milk PLC emerged as the second-most active stock, with 80,944 shares changing hands in transactions valued at GH¢378,005.83. The consumer goods company gained 1.08% to close at GH¢4.67, contributing to the market’s upward momentum.
The session’s standout performer was Clydestone Ghana Ltd, which posted a 9.09% gain from GH¢0.11 to GH¢0.12, though on relatively light volume. Ecobank Transnational Inc also showed strength, advancing 5.19% to GH¢0.81 as financial sector stocks participated in the broader rally.
Recent trading sessions had seen the exchange struggling, with the market closing lower on September 11 amid subdued activity. Monday’s recovery suggests investors may be finding value at current levels after the market’s recent pullback.
Market capitalization expanded to GH¢150.28 billion, reflecting the day’s gains across the exchange. However, trading volumes of 355,634 shares remained well below the more robust levels seen earlier in the month, indicating continued caution among market participants.
The insurance sector showed mixed performance, with SIC Insurance generating significant trading interest of 57,288 shares worth GH¢60,152.40, though the stock closed unchanged at its previous session price.
Oil marketing company GOIL added 0.86% to reach GH¢2.35, while banking sector representative Societe Generale Ghana attracted moderate interest with 12,585 shares traded.
The session’s recovery comes as Ghana’s stock market continues to navigate broader economic uncertainties, though the exchange has demonstrated resilience with strong year-over-year performance. The 65% annual gain highlighted in recent market data underscores the exchange’s longer-term appeal despite short-term volatility.
Trading on the Ghana Alternative Market remained quiet, with no activity recorded across GAX-listed securities. Similarly, odd lot trading showed no transactions for the session, reflecting the continued preference for standard board lot trades among market participants.
The positive Monday performance positions the GSE for potential continued recovery as the week progresses, though market observers will be watching for sustained trading volumes to confirm renewed investor confidence in Ghana’s equity markets.
Source: newsghana.com.gh
