Ghana’s stock market closed the week on a firm footing, adding about GH¢3.7 billion in value as steady buying pushed key indices higher and reinforced what has been an exceptionally strong year for equities.
By the close of trading on Friday, December 19, total market capitalisation had risen to GH¢171.9 billion, up from GH¢168.2 billion at the start of the week. In simple terms, companies listed on the exchange were collectively worth almost GH¢4 billion more than they were on Monday, reflecting rising share prices rather than new listings.
The benchmark GSE Composite Index (GSE-CI) climbed steadily through the week, moving from 8,678 points on Monday to 8,755 points on Friday. That gain of about 78 points may look small at first glance, but it confirms a consistent upward trend. Since the beginning of the year, the index is now up 79.1%, meaning investors who stayed in the market through 2025 have seen significant growth in the value of their holdings.
Financial stocks continued to play a central role in driving the market. The GSE Financial Stocks Index (GSE-FSI) rose by 26 points on Friday alone, closing at 4,642 points. Its year-to-date gain now stands at 95%, highlighting strong investor confidence in banks and other financial institutions, many of which have reported improved earnings and balance sheets.
Trading activity during the week was mixed, showing that the rally was driven more by selective buying than heavy speculation. Volumes peaked mid-week, with over 4.6 million shares traded on Tuesday and 4.8 million shares on Wednesday.
However, some of the most valuable trading days came with lower volumes. On Friday, for example, just under 1.4 million shares were traded, yet the market recorded GH¢16.5 million in turnover. This suggests that investors were focusing on higher-priced or large-capitalisation stocks rather than chasing volume.
Tuesday stood out as the busiest day in value terms, with trades worth GH¢19.6 million, helping to set the tone for the rest of the week. Even on quieter days, prices generally held firm, indicating that sellers were unwilling to accept lower prices and buyers remained confident.
Overall, the week’s performance points to a market that is calm but optimistic. Prices are rising, market value is expanding, and gains are being built gradually rather than in sharp, speculative jumps.
