The Ghana Stock Exchange ended the last week in negative territory after a sharp reversal on Friday wiped out gains accumulated earlier in the week.
The GSE Composite Index (GSE-CI) fell 47.97 points on Friday to close at 8,811.11, dragging the market lower after climbing steadily from Monday through Thursday. Market capitalisation also declined, slipping by GH¢618.12 million to GH¢176.23 billion.
Trading over the week was uneven, with activity concentrated heavily at the beginning and end of the period. Monday opened the week with strong turnover, recording nearly 9.68 million shares valued at GH¢38.05 million.
Activity then slowed midweek, with volumes dropping below one million shares on both Tuesday and Wednesday, before picking up again on Thursday.
The index showed resilience during the first four sessions, edging up from 8,828.04 on Monday to a weekly high of 8,859.08 on Thursday. However, that momentum was decisively broken on Friday as heavy selling pressure emerged, pushing the index sharply lower despite elevated trading volumes.
Friday’s session accounted for the bulk of weekly activity, with 28.55 million shares traded at a value of GH¢117.71 million, more than half of the week’s total volume and value. The sell-off was driven largely by Scancom PLC (MTNGH), which dominated trading.
The stock exchanged nearly 27.8 million shares but closed lower at GH¢4.20, down from GH¢4.25, exerting significant downward pressure on the benchmark index and overall market capitalisation.
Elsewhere on the market, smaller stocks recorded mixed performance. Cal Bank edged up to GH¢0.64 from GH¢0.63, while Clydestone posted a stronger gain, rising to GH¢0.50 from GH¢0.46.
However, these advances were insufficient to counterbalance the weight of Scancom’s decline, underscoring the influence of large-cap stocks on market direction.
The GSE Financial Stocks Index (GSE-FSI) ended the week marginally higher, rising by 4.34 points to 4,687.52, reflecting selective interest in banking and financial stocks. Year-to-date, both indices remain positive, with the GSE-CI up 0.47% and the GSE-FSI higher by 0.87%.
In all, the week’s trading highlighted a market that started on a firm footing but lost momentum at the close, as profit-taking and portfolio adjustments ahead of the new week weighed on prices.
