GSE smashes records: Financial index breaches 10,000 points as SIC Insurance soars

The Ghana Stock Exchange (GSE) continued its historic rally on Thursday, with the GSE Financial Stocks Index (GSE-FSI) surging past the 10,000-point mark for the first time in its history, propelled by strong gains from SIC Insurance and Standard Chartered Bank.

Data from the 7,171st trading session on March 12, 2026, showed investor confidence showing no signs of waning. The benchmark GSE Composite Index (GSE-CI) climbed a further 123.31 points to close at 15,524.99, while the financial index settled at an impressive 10,007.68 points after a gain of 248.25 points.

The bullish run translated into significant wealth creation, as market capitalisation expanded to an unprecedented GH¢287.83 billion, up from GH¢282.91 billion in the previous session. Investor activity also peaked, with total volume reaching 5,104,565 shares traded, and a total value of GH¢34.8 million—marking the highest single-day value recorded this week.

SIC Leads the Charge

Leading the pack of gainers was SIC Insurance Company PLC (SIC) , which delivered a breathtaking performance, jumping GH¢0.62 to close at GH¢6.99. The insurance giant attracted significant investor interest, with 394,542 shares changing hands.

Standard Chartered Bank Ghana PLC (SCB) continued its impressive ascent, adding GH¢3.36 to close at GH¢79.41. Other financial stocks also saw robust activity, with Ecobank Transnational Inc. (ETI) gaining GH¢0.20 to GH¢2.24, and Republic Bank (Ghana) PLC (RBGH) rising by GH¢0.35 to GH¢3.93. Enterprise Group PLC (EGL) also joined the rally, adding GH¢0.60 to close at GH¢11.50.

MTN Ghana Tops Volumes but Edges Down

Despite the overwhelmingly positive sentiment, some heavyweights recorded marginal losses. Scancom PLC (MTNGH) , the most traded counter of the day with over 2.45 million shares exchanged, saw its share price dip by GH¢0.06 to GH¢6.28.

Other laggards included Fan Milk PLC (FML) , which declined by GH¢0.21 to GH¢16.14, and Ecobank Ghana PLC (EGH) , which fell GH¢0.14 to GH¢56.00. Guinness Ghana Breweries PLC (GGBL) dipped GH¢0.10 to GH¢16.40.

Market Outlook

Thursday’s session marks a continuation of a remarkable bull run that has seen the GSE-CI gain an astonishing 77.02% since the start of the year. The financial stocks index has been the standout performer, delivering a breathtaking 115.35% return, effectively more than doubling investor capital in just over two months.

The crossing of the 10,000-point threshold by the financial index is seen by market analysts as a psychological boost and a signal of sustained investor confidence in Ghana’s financial sector.

Gainers:

· SIC Insurance (SIC): +GH¢0.62 to GH¢6.99
· Standard Chartered (SCB): +GH¢3.36 to GH¢79.41
· Enterprise Group (EGL): +GH¢0.60 to GH¢11.50
· Republic Bank (RBGH): +GH¢0.35 to GH¢3.93
· Ecobank Transnational (ETI): +GH¢0.20 to GH¢2.24

Laggards:

· Fan Milk (FML): -GH¢0.21 to GH¢16.14
· Ecobank Ghana (EGH): -GH¢0.14 to GH¢56.00
· Guinness Ghana (GGBL): -GH¢0.10 to GH¢16.40
· Scancom (MTNGH): -GH¢0.06 to GH¢6.28