Ghana Stock Exchange shatters records in historic GH¢124M trading day

The Ghana Stock Exchange (GSE) experienced its most extraordinary trading session of the year on Thursday, March 5, as investor enthusiasm propelled the market to record-breaking heights. The benchmark GSE Composite Index (GSE-CI) surged by 267.76 points to close at an all-time high of 14,273.08 points.

The 7,167th trading session saw unprecedented activity, with total volume skyrocketing to over 15.6 million shares—more than four times the previous day’s volume. The aggregate value of trades hit a staggering GH¢124.4 million, marking the highest single-day value in recent memory.

This surge in activity drove the market capitalisation up to GH¢262.08 billion, a significant jump from Wednesday’s GH¢256.75 billion. Reflecting the broad-based nature of the rally, the GSE Financial Stocks Index (GSE-FSI) also climbed 145.74 points to settle at 8,951.61.

MTN Ghana Leads the Charge

Telecommunications giant Scancom PLC (MTNGH) emerged as the undisputed driver of Thursday’s record session. MTN Ghana saw its share price climb GH¢0.12 to close at GH¢5.92. More impressively, it accounted for a staggering 13.4 million of the 15.6 million shares traded—approximately 86% of all market activity. The stock contributed nearly GH¢79.5 million to the total market value, underscoring its dominance as Ghana’s most liquid and sought-after equity.

Banking Stocks Extend Rally

The banking sector continued its breathtaking ascent, with several institutions hitting new milestones.

· Standard Chartered Bank Ghana PLC (SCB) led the gainers, adding an impressive GH¢5.19 to close at GH¢57.15.
· Guinness Ghana Breweries PLC (GGBL) also delivered a stellar performance, gaining GH¢1.10 to end the day at GH¢16.10.
· Enterprise Group PLC (EGL) rose by GH¢0.80 to GH¢9.80.
· Fan Milk PLC (FML) added GH¢0.46 to reach GH¢16.35.
· Unilever Ghana PLC (UNIL) climbed GH¢0.55 to GH¢28.45.
· Ecobank Transnational Inc. (ETI) rose by GH¢0.11 to GH¢1.66.

Other notable gainers included Republic Bank (Ghana) PLC (RBGH), SIC Insurance Company PLC (SIC), Ghana Oil Company Limited (GOIL), Cal Bank PLC (CAL), and Cocoa Processing Company PLC (CPC).

NewGold Shines Bright

The NewGold exchange-traded fund (GLD) delivered a standout performance, jumping an impressive GH¢12.07 to close at GH¢546.00, contributing over GH¢5.6 million to the total market value.

GCB Bank Bucks the Trend

GCB Bank PLC (GCB) emerged as the session’s sole decliner, shedding GH¢1.66 to close at GH¢48.14 despite healthy trading volume. The pullback appears to reflect profit-taking by investors after the stock’s spectacular run in recent sessions.

Market Summary

With Thursday’s session marking the ninth consecutive day of gains, the GSE-CI has now gained an astonishing 62.74% since the start of the year, while the financial stocks index has delivered a remarkable 92.62% return. Market watchers are now eyeing the 15,000-point level as the next psychological barrier for the benchmark index.