GSE-CI Posts 2.54% Weekly Growth, YTD Return Hits 55.07%

The Ghana Stock Exchange Composite Index (GSE-CI) rose sharply this week, closing 120.42 points higher at 4,854.04 points.

This marks a 2.54% weekly gain, reversing the previous week’s 0.10% decline and bringing the year-to-date (YTD) return to an impressive 55.07%.

The GSE Financial Stocks Index (GSE-FSI), a narrower gauge of the market’s financial sector performance, posted a modest increase of 0.08% to close at 2,371.93 points, lifting its YTD return to 24.74%.

Market capitalization of the Ghana Stock Exchange increased to GH¢110,698.90 million from last week’s GH¢110,153.34 million, supported by a surge in trading activity.

The volume of shares traded jumped by 222.33% week-on-week, with turnover rising by 147.61%.

Investors saw gains across several key stocks with week-on-week price movement gains for GLD (GH¢11.35), TOTAL (GH¢0.20), MTNGH (GH¢0.12), GCB (GH¢0.02) and CAL (GH¢0.01).

MTN Ghana dominated the week’s trading, with 10.75 million shares changing hands at a total value of GH¢26.52 million. Other active counters included GOIL, which traded 54,835 shares valued at GH¢88,349.20.

The week’s robust market activity underscores growing investor confidence as the GSE-CI continues its upward trajectory, bolstered by gains in key stocks. With year-end approaching, market watchers will be looking for sustained momentum in the coming weeks.

Source: norvanreports.com