Despite a market-wide rally on the Ghana Stock Exchange (GSE) on Wednesday, May 14, 2025, NewGold ETF (GLD) posted a sharp decline, losing GH¢41.89 to close at GH¢385.12. This represents a 9.8% drop from its previous trade of GH¢427.01, making it the worst-performing equity of the day.
The broader market told a different story. The GSE Composite Index (GSE-CI) surged by 151.63 points (+2.3%) to close at 6,607.59, while the GSE Financial Stocks Index (GSE-FSI) rose by 4.37 points to 3,166.68. Both indices have recorded impressive year-to-date gains, with the GSE-CI up 35.17% and the GSE-FSI up 33.01%.
However, trading activity cooled sharply compared to Tuesday’s figures. Volume dropped from 12.2 million shares on May 13 to just 1.28 million on May 14. Similarly, the value of trades fell from GH¢40.3 million to GH¢16.63 million, a sign that investors may have been more selective or cautious despite the bullish index movement.
Among gainers, Ecobank Ghana (EGH) rose by GH¢0.12 to GH¢7.50, MTN Ghana (MTNGH) climbed GH¢0.14 to GH¢3.46, and Unilever Ghana (UNIL) inched up GH¢0.02 to GH¢19.56. In contrast, TotalEnergies Marketing Ghana PLC (TOTAL) slipped GH¢0.10 to GH¢24.90.
Market capitalization grew to GH¢142.49 billion, reflecting investor confidence in blue-chip stocks. Yet the plunge in NewGold ETF and the sharp fall in trading activity may suggest growing uncertainty in commodity-backed securities.
