Ghana’s benchmark stock index rebounded on Thursday after suffering its sharpest decline of the week, as investors returned to the market following a sell-off that briefly erased more than GH¢2.6 billion in market value.
The GSE Composite Index (GSE-CI) rose 111.88 points to 14,689.01 on July 2, recovering a significant portion of Wednesday’s 147.13-point decline, when heavy trading pushed the benchmark to 14,577.13.
The recovery came in a shortened trading week, with the market closed on Friday for a public holiday.
Trading activity remained robust despite the volatility. Investors exchanged 13.85 million shares worth GH¢43.58 million over the four trading sessions, with Wednesday accounting for the week’s highest turnover as 5.62 million shares valued at GH¢16.33 million changed hands.
The surge in trading volumes during Wednesday’s decline suggested heightened investor activity as the market underwent a broad correction, while Thursday’s rebound pointed to renewed buying interest after the pullback.
Market capitalization, which fell from GH¢287.48 billion on Tuesday to GH¢284.84 billion on Wednesday, recovered to GH¢285.85 billion by Thursday, although it remained below the week’s opening level.
Financial stocks continued to outperform the broader market, reinforcing their position as the driving force behind this year’s rally. The GSE Financial Stocks Index (GSE-FSI) gained 3.31 points to 8,207.73, extending its year-to-date return to 76.62%, compared with a 67.49% gain for the Composite Index.
The performance underscores the resilience of Ghana’s equity market despite intermittent bouts of profit-taking. While Wednesday’s decline marked the week’s biggest setback, Thursday’s recovery indicated that investor sentiment remained broadly positive amid one of the exchange’s strongest annual performances in recent years.
The week’s trading reflected a market experiencing short-term volatility within a sustained upward trend, with financial sector counters continuing to underpin gains across the broader exchange.
