GSE hits GH¢283B market cap as Standard Chartered and BOPP lead stellar rally

The Ghana Stock Exchange continued its breathtaking run on Wednesday, with the GSE Composite Index surging an additional 216.19 points to close at 15,401.68, as investor enthusiasm showed no signs of waning.

Market capitalisation soared to an unprecedented GH¢282.91 billion, up from Tuesday’s GH¢277.97 billion, underscoring the remarkable wealth creation sweeping through the Accra bourse.

Trading activity intensified significantly, with 4,944,937 shares changing hands at a total value of GH¢29,043,604.70 – a substantial increase from the previous session.

Banking Titans Lead Charge

Standard Chartered Bank Ghana PLC delivered another jaw-dropping performance, vaulting GH¢6.91 to close at GH¢76.05. The banking heavyweight attracted considerable investor interest, with 18,499 shares traded contributing over GH¢1.4 million to total market value.

Benso Oil Palm Plantation PLC emerged as the session’s top performer, jumping GH¢7.00 to GH¢86.00 in a display of strength that caught market watchers’ attention.

Enterprise Group PLC added GH¢0.98 to reach GH¢10.90, while Ghana Oil Company Limited climbed GH¢0.66 to GH¢7.26. SIC Insurance Company PLC gained GH¢0.39 to close at GH¢6.37, and Republic Bank rose GH¢0.32 to GH¢3.58.

Telecommunications giant Scancom PLC (MTNGH) saw 3.2 million shares trade – the highest volume of the session – contributing GH¢20.4 million to total value as it edged up GH¢0.01 to GH¢6.34.

Select Stocks Retreat

Not all shares joined the rally. Ecobank Ghana PLC declined GH¢0.86 to GH¢56.14, while Access Bank Ghana PLC shed GH¢0.02 to close at GH¢46.62.

Market Milestones

The GSE Composite Index has now gained an astonishing 75.61% since the start of the year, while the Financial Stocks Index has delivered a breathtaking 110.01% return – more than doubling investor capital in just over two months.

Wednesday’s session marks the continuation of a historic rally that has seen the benchmark index climb relentlessly since late February, with market analysts now setting their sights on the 16,000-point level as the next psychological barrier.

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Wednesday’s Top Gainers:

· Benso Oil Palm (BOPP): +GH¢7.00 to GH¢86.00
· Standard Chartered (SCB): +GH¢6.91 to GH¢76.05
· Enterprise Group (EGL): +GH¢0.98 to GH¢10.90
· GOIL: +GH¢0.66 to GH¢7.26
· SIC Insurance (SIC): +GH¢0.39 to GH¢6.37

Wednesday’s Laggards:

· Ecobank Ghana (EGH): -GH¢0.86 to GH¢56.14
· Access Bank (ACCESS): -GH¢0.02 to GH¢46.62