GSE crosses 12,500-point mark investors pocket GH¢24m in single day

The Ghana Stock Exchange (GSE) continued its impressive rally on Thursday, with the benchmark GSE Composite Index (GSE-CI) breaching the 12,500-point barrier for the first time, driven by strong performances from banking stocks and significant investor interest.

The index closed trading at 12,534.31 points, representing a substantial gain of 274.78 points. The bullish sentiment was mirrored across the board, with the GSE Financial Stocks Index (GSE-FSI) also jumping 345.1 points to settle at 7,326.74 points.

The strong demand for shares resulted in investors recording a gain of GH¢24,052,275.72 in a single trading session, as market capitalization expanded significantly from GH¢225.02 billion on Wednesday to GH¢230.25 billion at the close of trading on Thursday.

A total of 3,931,385 shares changed hands during the session.

MTN Dominates, Banks Lead the Charge

Telecommunications giant MTN Ghana (MTNGH) was once again the most active stock on the bourse, with over 2.96 million shares traded, accounting for a value of GH¢16.47 million.

However, it was the banking sector that stole the show on the gainers’ list. Access Bank Ghana PLC (ACCESS) led the pack, appreciating by GH¢3.15 to close at GH¢35.05. It was closely followed by GCB Bank PLC (GCB) , which added GH¢3.12 to end the day at GH¢35.43.

Other notable gainers included:

· Benso Palm Plantation PLC (BOPP): +GH¢6.59 to close at GH¢72.60
· Ecobank Ghana PLC (EGH): +GH¢1.06 to close at GH¢52.10
· Fan Milk PLC (FML): +GH¢0.86 to close at GH¢13.96
· Societe Generale Ghana PLC (SOGEGH): +GH¢0.86 to close at GH¢9.46
· Enterprise Group PLC (EGL): +GH¢0.50 to close at GH¢6.80

On the losing side, Scancom PLC (MTNGH) was the sole significant decliner among actively traded stocks, dipping marginally by GH¢0.02 to close at GH¢5.56, despite its high trading volume.

Market Outlook

With the GSE-CI gaining 0.43% year-to-date and the financial index up 0.58%, analysts attribute the recent rally to renewed investor confidence in the resilience of the banking sector and positive earnings reports from the fourth quarter.

Market watchers are now keenly awaiting Friday’s trading session to see if the bullish momentum can be sustained and whether the index can hold its ground above the newly established 12,500-point threshold.