Bourse ends October on a high, but financial stock index slips

November 2, 2026

3 minutes read

THE Ghana Stock Exchange (GSE) closed October on a positive note, with the benchmark GSE Composite Index (GSE-CI) gaining 1.38 per cent in the week ended October 30, 2026, driven largely by the dominance of telecommunications giant, MTN Ghana (MTNGH).

The GSE-CI closed the week at 14,302.27 points, up from 14,107.58 points the previous week. Year to date, the index has gained 63.08 per cent.

The GSE Financial Stock Index (GSE-FSI), however, moved in the opposite direction, shedding 0.54 per cent to close at 7,388.15 points from 7,428.53 points. Its year-to-date gain stands at 58.98 per cent.

Market capitalisation of the bourse rose 0.54 per cent to GH¢268,153.09 million, compared with GH¢266,720.26 million a week earlier. Since the start of the year, market capitalisation has grown by 55.86 per cent.

Investor activity was mixed. A total of 10,533,334 shares changed hands during the week, a 14.76 per cent decline from the 12,357,387 shares traded the previous week.

In value terms, however, turnover edged up 0.20 per cent to GH¢56.52 million, from GH¢56.41 million.

The Information and Communication Technology (ICT) sector was the clear leader, accounting for 6,961,512 shares valued at GH¢45.45 million.

That represents 66.09 per cent of total volume and 80.42 per cent of total value traded.

Finance followed a distant second with GH¢4.99 million, ahead of Food and Beverage (GH¢2.69 million), Insurance (GH¢1.95 million) and Distribution (GH¢959,954.62).

In manufacturing, the Exchange Traded Fund (ETF) segment, Advertisement and Production, and Mining completed the list, with Mining recording the lowest turnover of GH¢24,892.39.

At the counter level, MTNGH was by far the most active stock, with 6,945,157 shares worth GH¢45.39 million.

The telecom giant gained 3.53 per cent over the week to close at GH¢6.75, up from GH¢6.52, and has appreciated 60.71 per cent since January.

GCB Bank was the second most traded stock by value at GH¢1.99 million, followed by Enterprise Group Limited (EGL) at GH¢1.63 million, Guinness Ghana Breweries Limited (GGBL) at GH¢1.53 million and Camelot Ghana (CAL) at GH¢1.00 million.

By volume, CAL ranked second with 1,371,672 shares, followed by Kasapreko (KASA) with 551,148 shares, Ecobank Transnational Incorporated (ETI) with 395,274 shares, and Intravenous Infusions Limited (IIL) with 274,657 shares.

Trading was largely subdued for most of the week, apart from Wednesday, October 28, when turnover surged to GH¢41.50 million on 6,878,491 shares.

Other daily turnovers ranged from GH¢2.00 million to GH¢2.35 million, except Friday’s GH¢8.64 million on 1,307,441 shares. Market capitalisation moved steadily from GH¢264,455.19 million on Monday to GH¢268,153.09 million by Friday.

GCB Bank led the gainers, appreciating 4.60 per cent to GH¢42.08 from GH¢40.23. MTNGH followed, while Kasapreko gained 2.21 per cent to close at GH¢1.85.

Fifteen stocks recorded price movements during the week, with three advancing and 12 declining, resulting in an average price change of negative 2.53 per cent.

Digicut suffered the steepest fall, dropping 9.30 per cent to GH¢0.39. Hords Limited (HORDS) lost 8.54 per cent to close at GH¢0.75, while Societe Generale Ghana (SOGEGH) fell 7.40 per cent to GH¢4.63. IIL declined 5.26 per cent to GH¢0.54, and ETI shed 4.64 per cent to GH¢1.44.

Other decliners included Clydestone (CLYD), down 3.75 per cent to GH¢3.85; GOIL, down 3.17 per cent to GH¢5.50; TotalEnergies (TOTAL), down 2.46 per cent to GH¢39.99; and Republic Bank Ghana (RBGH), down 2.20 per cent to GH¢4.00.

EGL, Fan Milk (FML) and GGBL recorded marginal losses.

Despite the weekly pullback, several counters remain well ahead for the year.

IIL leads with a 980 per cent gain, followed by CLYD (670 per cent), HORDS (650 per cent) and Digicut (333.33 per cent). RBGH is up 200.75 per cent and EGL 137.96 per cent.

On the other hand, SOGEGH (down 6.09 per cent) and TOTAL (down 0.65 per cent) remain the only stocks in negative territory since January.

BY TIMES REPORTER

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