Market surge: GSE hits record high as BOPP and MTN Ghana lead stellar charge

The Ghana Stock Exchange (GSE) continued its historic rally on Wednesday, with the benchmark GSE Composite Index (GSE-CI) soaring to a new all-time high of 15,908.77 points. The impressive performance was fueled by a staggering rally in Benso Palm Plantation shares and heavy buying interest in telecommunications giant Scancom PLC (MTNGH).

Trading data for the 7,175th session revealed a significant spike in investor activity. Total volume surged to a weekly high of 6.4 million shares traded, while the aggregate value of transactions hit a substantial GH¢39.93 million. Market capitalization remained robust at GH¢300.73 billion, comfortably holding above the GH¢300 billion milestone reached earlier this week.

While the main index celebrated a 40.66-point gain, the GSE Financial Stocks Index (GSE-FSI) experienced a pullback, shedding 212.65 points to close at 10,235.57, reflecting a mixed performance within the financial sector.

MTN Ghana Dominates Trading Floor

MTN Ghana was the undisputed driver of Wednesday’s activity, accounting for a staggering 82% of all shares traded. A total of 5.26 million MTNGH shares changed hands, contributing over GH¢34 million to the day’s total value. The stock itself gained GH¢0.19 to close at GH¢6.48, rewarding investors who have ridden the telecom’s upward trend.

BOPP’s Spectacular Jump Leads the Gainers

In a display of remarkable price appreciation, Benso Palm Plantation PLC (BOPP) emerged as the session’s star performer. The agricultural stock skyrocketed by GH¢6.09—the day’s biggest gain—to close at GH¢92.09, attracting significant attention from investors.

Other notable gainers included Republic Bank (Ghana) PLC (RBGH), which rose by GH¢0.27 to GH¢4.96, and Ghana Oil Company Limited (GOIL), which added GH¢0.03 to trade at GH¢7.63.

Financial Stocks Lead the Dip

Despite the index’s record close, the laggards’ list was dominated by financial stocks in a broad-based retreat.

Societe Generale Ghana PLC (SOGEGH) took the hardest hit, plunging by GH¢1.07 to close at GH¢10.76. GCB Bank PLC (GCB) also saw significant losses, shedding GH¢1.61 to end the day at GH¢50.39.

Other decliners included SIC Insurance Company PLC (SIC), down GH¢0.55 to GH¢5.04; Guinness Ghana Breweries PLC (GGBL), which fell GH¢0.40 to GH¢15.94; and Ecobank Transnational Inc. (ETI), which dipped GH¢0.10 to GH¢2.72.

Market Summary

The GSE-CI has now posted an extraordinary gain of 81.39% since the start of the year, underscoring a period of remarkable wealth creation on the Accra bourse.

Wednesday’s session encapsulated this momentum perfectly, setting yet another record high driven by heavy volumes in a few key stocks, even as a broad swathe of other equities, particularly in the financial sector, saw price declines.

Top Gainers Price Change (GH¢) Closing Price (GH¢)
Benso Palm Plantation (BOPP) +6.09 92.09
Republic Bank (RBGH) +0.27 4.96
Scancom (MTNGH) +0.19 6.48
Ghana Oil (GOIL) +0.03 7.63

Top Laggards Price Change (GH¢) Closing Price (GH¢)
GCB Bank (GCB) -1.61 50.39
Societe Generale (SOGEGH) -1.07 10.76
SIC Insurance (SIC) -0.55 5.04
Guinness Ghana (GGBL) -0.40 15.94
TotalEnergies (TOTAL) -0.10 39.89
Ecobank Transnational (ETI) -0.10 2.72
Fan Milk (FML) -0.07 15.32
Cal Bank (CAL) -0.06 0.79
Enterprise Group (EGL) -0.02 12.13