The Ghana Stock Exchange sprang into action on Tuesday September 16, as trading activity and share prices surged, driven mainly by strong demand for MTN Ghana shares. After a quiet Monday, investors returned in force, pushing the market higher and lifting the value of listed companies.
On Monday, only about 355,000 shares changed hands, worth GH¢1.2 million, and the market seemed calm. But by Tuesday, activity exploded. More than 2.46 million shares were traded, valued at a huge GH¢8.93 million, about seven times more than the day before. This sudden burst of buying also pushed the total market value of all listed companies (market capitalization) up from GH¢150.28 billion to GH¢152.14 billion in just one day.
This heavy buying lifted the main stock market index (GSE Composite Index) from 7,316.08 on Monday to 7,465.99 on Tuesday, a jump of 149.91 points in one day. That means the market has now gained about 52.7% so far this year. Interestingly, the financial stocks index (GSE-FSI) stayed flat at 3,512.32, showing that banks and other financial companies were quiet while non-financial stocks drove the rally.
The real star of the day was MTN Ghana (MTNGH). It dominated the market, trading over 2.2 million shares worth GH¢8.6 million, and its share price climbed from GH¢3.76 to GH¢3.90, up 14 pesewas. This single stock accounted for almost 90% of the total money traded on the market and was the biggest reason the index rose so strongly.
A few other shares also saw small gains. Ghana Oil Company (GOIL) ticked up from GH¢2.35 to GH¢2.37, and Clydestone Ghana (CLYD) inched from GH¢0.12 to GH¢0.13. These gains were modest, with only a few thousand shares traded each, showing that while the market was lively, the excitement was focused on a few companies.
Overall, Tuesday’s trading showed renewed confidence among investors, with more money flowing into the market and prices rising, especially for big non-financial companies like MTN Ghana.
