The Ghana Stock Exchange (GSE) continued to trend lower on Thursday, with the benchmark GSE Composite Index (GSE-CI) falling by 48.41 points, or 0.75%, to close at 6,385.30. That makes it three straight days of losses, erasing 313.74 points since Monday’s open. Still, the market remains up 30.62% year-to-date, a reminder of the strong rally seen in the first quarter.
The Financial Stocks Index (GSE-FSI) bucked the broader trend, inching up 1.99 points (+0.06%) to 3,174.94. Financials have been the standout performers so far in 2025, with the index now up 33.36% since January. Investors appear to be holding steady in this sector, likely encouraged by solid first-quarter earnings.
Who Moved the Market?
If you’re watching the daily movers, Thursday brought both gains and losses. Benso Palm Plantation PLC (BOPP) added GH¢1.25 to close at GH¢31.00, continuing a steady climb. Societe Generale Ghana PLC (SOGEGH) also nudged higher, up GH¢0.04 to GH¢1.80.
On the other side, Scancom PLC (MTNGH), the telecoms heavyweight, slipped by GH¢0.05 to GH¢3.23. Cal Bank PLC (CAL) edged down GH¢0.01 to GH¢0.61, while NewGold ETF (GLD) suffered the sharpest loss, dropping GH¢14.42 to GH¢373.62.
| Index | Previous (21/05/2025) | Current (22/05/2025) | Daily Change | YTD Change (Jan 01 – May 22, 2025) |
|---|---|---|---|---|
| GSE Composite Index (GSE-CI) | 6,433.71 | 6,385.30 | ▼ 48.41 points | +30.62% |
| GSE Financial Stocks Index (GSE-FSI) | 3,172.95 | 3,174.94 | ▲ 1.99 points | +33.36% |
In terms of trading activity, MTNGH led the session with 348,048 shares exchanged, followed by CAL (10,690 shares) and Ecobank Transnational Inc. (ETI) with 10,194 shares. BOPP, SOGEGH, and NewGold also recorded trades exceeding 1,000 shares, with the latter’s value reaching over GH¢2.79 million.
Market Cap Dips as Sentiment Cools
Thursday’s trading volume came in at 378,947 shares, a noticeable slowdown from Wednesday’s higher volumes, while the value of trades totaled GH¢3.97 million. That’s a drop from the previous session’s GH¢6.81 million, hinting at growing investor caution as the weekend approaches.
Market capitalization has now contracted by GH¢3.91 billion this week alone, falling from GH¢143.60 billion on Monday to GH¢139.69 billion. Much of that decline has come from across-the-board selloffs, particularly in the manufacturing and energy sectors, which recorded average losses of 2.1%.
Still, it wasn’t all negative. Banking stocks posted an average gain of 0.8%, helping to stabilize the financial index and reflect the confidence some investors are placing in sector fundamentals.
A Moment of Pause, or a Deeper Pullback?
The GSE-CI is now hovering at 6,380. If it holds, the market may find footing heading into next week. But if that floor breaks, further declines toward the 6,250 mark could be in play.
