Fan Milk, NewGold Lead Thursday’s Rally as Investors Show Strong Appetite
The Ghana Stock Exchange (GSE) recorded a remarkable trading session on Thursday, with the GSE Composite Index (GSE-CI) surging 119.18 points to close at 6,555.72, marking one of the strongest single-day performances in recent weeks.
The impressive rally pushed the market’s total capitalization to GH¢140.73 billion, up from Wednesday’s GH¢139.21 billion, as investors demonstrated renewed confidence in listed equities amid positive market sentiment.
Market Performance Highlights
Thursday’s 7013 trading session saw significant activity across multiple counters, with trading volume reaching 2.33 million shares valued at GH¢6.83 million. This represented a substantial increase from Wednesday’s relatively modest 569,162 shares traded.
The GSE Composite Index’s impressive gain of 119.18 points represents a 1.85% daily increase, bringing the year-to-date performance to a stellar 34.10% since January 1, 2025. However, the GSE Financial Stocks Index (GSE-FSI) remained relatively flat, declining marginally by 0.62 points to 3,412.13, though still maintaining a robust 43.32% year-to-date gain.
Individual Stock Winners Drive Market Surge
Fan Milk PLC emerged as the session’s standout performer, gaining GH¢0.15 (3.66%) to close at its year-high of GH¢4.25. The dairy and confectionery giant dominated trading activity with 688,679 shares changing hands, generating a total value of GH¢2.93 million – the highest among all traded stocks.
NewGold, despite lower trading volumes of just 291 shares, recorded the largest absolute price gain of GH¢11.66 (3.22%), closing at GH¢373.40. The precious metals stock’s strong performance reflects continued investor interest in gold-related investments.
Ghana Oil Company PLC (GOIL) also reached its year-high, gaining GH¢0.03 (1.42%) to GH¢2.14, while Republic Bank Ghana added GH¢0.02 (2.22%) to close at GH¢0.92, also touching its 52-week high.
Weekly Trading Pattern Shows Momentum Building
Analysis of the week’s trading data reveals a pattern of building momentum, with Monday starting strong at 6.37 million shares traded, followed by quieter Tuesday and Wednesday sessions, before Thursday’s explosive finish.
The week began with the GSE-CI at 6,437.68 on Monday, remained relatively stable through mid-week around the 6,436 level, before Thursday’s significant breakout above 6,500 points.
Cal Bank PLC was the only major decliner in Thursday’s session, dropping GH¢0.02 (3.64%) to GH¢0.53, though it remained one of the more actively traded stocks with 428,682 shares changing hands.
Market Outlook Remains Positive
The strong performance comes at a time when Ghana’s macroeconomic fundamentals appear stable, with the government maintaining its 2025 targets including 4.0% overall GDP growth and 11.9% end-year inflation rate.
