Market surge: GSE capitalisation hits GH¢299.56bn as ETI and Republic Bank lead charge

The Ghana Stock Exchange (GSE) kicked off the trading week on a spectacular note, with its benchmark index hitting a fresh record high and market capitalisation surging to an unprecedented GH¢299.56 billion, just shy of the GH¢300 billion milestone.

Data from the 7,173rd trading session on Monday showed sustained investor confidence, propelling the GSE Composite Index (GSE-CI) up by 233.55 points to close at 15,844.87. The gains were broad-based, with the GSE Financial Stocks Index (GSE-FSI) also jumping 208.92 points to settle at 10,354.22.

The strong performance pushed the total value of listed companies to GH¢299.56 billion, a significant jump from Friday’s close of GH¢292.58 billion, reflecting robust wealth creation on the Accra bourse. Investors traded a total of 1.32 million shares, with a combined value of GH¢5.35 million.

ETI, Republic Bank Lead the Gainers

Leading the charge was pan-African banking group, Ecobank Transnational Inc. (ETI), which attracted the highest volume of the day with 556,593 shares traded. The stock surged by GH¢0.24 to close at GH¢2.70.

It was closely followed by Republic Bank (Ghana) PLC (RBGH) , which saw a sharp uptick of GH¢0.40 to end the day at GH¢4.43. Enterprise Group PLC (EGL) also posted strong gains, adding GH¢0.15 to trade at GH¢12.16.

In the energy and telecom sectors, Ghana Oil Company Limited (GOIL) appreciated by GH¢0.12 to GH¢7.44, while telecom giant Scancom PLC (MTNGH) rose by GH¢0.07 to GH¢6.34.

SIC Insurance Bucks the Trend

The sole significant laggard on an otherwise bullish day was SIC Insurance Company PLC (SIC) , which shed GH¢0.69 to close at GH¢6.21.

A wide range of equities remained unchanged, including heavyweights such as AngloGold Ashanti (AGA) , Fan Milk (FML) , GCB Bank (GCB) , Standard Chartered Bank (SCB) , and NewGold (GLD) , which held steady at GH¢546.00.

On the Ghana Alternative Market, Digicut Production & Advertising PLC (DIGICUT) was active, with 105,365 shares traded at an unchanged price of GH¢0.09.

Stellar Year-to-Date Performance

Monday’s rally further cements what has been an extraordinary year for the Accra bourse. The GSE-CI has now gained an impressive 80.67% since the start of the year. The financial sector has been the primary driver, with the GSE-FSI delivering a breathtaking 122.81% return, more than doubling investor capital in just over two and a half months.

Market Summary for March 16, 2026

· GSE Composite Index: 15,844.87 (+233.55 points)
· GSE Financial Index: 10,354.22 (+208.92 points)
· Market Cap: GH¢299.56 billion
· Volume Traded: 1,325,886 shares
· Value Traded: GH¢5,348,621.30

Top Gainers

· Republic Bank (RBGH): GH¢ +0.40 (GH¢4.43)
· Ecobank Transnational (ETI): GH¢ +0.24 (GH¢2.70)
· Enterprise Group (EGL): GH¢ +0.15 (GH¢12.16)
· GOIL: GH¢ +0.12 (GH¢7.44)
· MTN Ghana (MTNGH): GH¢ +0.07 (GH¢6.34)

Laggard

· SIC Insurance (SIC): GH¢ -0.69 (GH¢6.21)