Shares in Scancom PLC climbed on Thursday, helping lift the broader market as the Ghana Stock Exchange extended its upward trend for the week.
MTN Ghana closed at ₵5.93, up from ₵5.79 previously, with strong trading activity of 783,998 shares valued at ₵4.65 million, the highest turnover on the day. The telecom stock’s gains came alongside advances in banking names, including GCB Bank PLC, which rose ₵2.07 to close at ₵28.89, and Ecobank Transnational Inc., which edged up to ₵1.92.
The benchmark GSE Composite Index climbed 136.77 points to 13,667.02 on Thursday, while the Financial Stocks Index rose 26 points to 8,072.42, reflecting continued strength in banking equities.
The day’s gains capped a steady upward trajectory over the week. The Composite Index has risen from 13,155.48 on Monday to 13,667.02 by Thursday, while market capitalization expanded from ₵248.26 billion to ₵258.87 billion, an increase of over ₵10 billion in four trading sessions.
Trading volumes, however, showed a tapering pattern over the week, declining from 4.5 million shares on Monday to 1.44 million shares on Thursday, suggesting that price gains are being driven more by valuation shifts than broad-based participation.
Among decliners, Access Bank Ghana PLC fell ₵3.78 to ₵34.03, while Benso Palm Plantation PLC dropped sharply by ₵10.00 to ₵90.00. Enterprise Group PLC and Republic Bank (Ghana) PLC also posted marginal losses.
Gainers included Cal Bank PLC, Clydestone (Ghana) PLC, SIC Insurance Company PLC and Societe Generale Ghana PLC, though their movements were relatively modest compared to MTN Ghana’s influence on overall market value.
Year-to-date, the Composite Index is up 55.83%, while the Financial Stocks Index has surged 73.71%, underscoring sustained investor interest in equities, particularly in the banking sector.
