Equities on the Ghana Stock Exchange sustained their upward trajectory last week with the benchmark GSE-Composite Index (GSE-CI) climbing 2.52% to close at 6,214.34 points driven by strong performances in telecoms and banking stocks.
The broader market rally added 152.60 points to the GSE-CI, extending Year-to-Date gains to 27.12%.
The GSE-Financial Stock Index (GSE-FSI) also edged 1.12% higher, ending the week at 3,129.19 points and bringing its YTD performance to 31.43% amid expectations of improved earnings by investors.
Trading volumes, however, slumped significantly with total market turnover falling 38.86% week-on-week to GH¢31.16 million.
Market capitalisation inched up to GH¢137.77 billion, reflecting the index’s overall positive movement.
Ecobank Ghana (ETI) led last week’s gainers which advanced 3.45% to GH¢0.90 extending its extraordinary Year-to-Date return to over 190%.
Société Générale Ghana (SOGEGH) and MTN Ghana also posted modest gains of 10% and 4% respectively, with MTN emerging as the most actively traded stock by volume accounting for over 1.86 million shares valued at GH¢5.7 million.
On the downside, gold-backed ETF GLD tumbled 18.92% to GH¢441.08, weighed by a retreat in global gold prices and reduced investor appetite for safe-haven assets.
CAL Bank and TotalEnergies Marketing Ghana also recorded marginal losses sliding 4.41% and 0.41% respectively.
SP/AE
