GSE Composite Index Nears 50% Year-to-Date Return as Market Sees Strong Gains in August
Trading activity on the Ghana Stock Exchange (GSE) ended August on a strong note, with the GSE Composite Index (GSE-CI) advancing by 4.84% to close at 7,330.37 points. This performance pushed the market’s year-to-date return to 49.95%, underlining growing investor confidence in Ghana’s equities market despite broader economic uncertainties.
The GSE Financial Stock Index (GSE-FSI), however, recorded a modest decline of 0.44%, closing at 3,411.96 points. Still, the index has gained 43.31% year-to-date, reflecting sustained interest in the financial sector.
Top Performers
Cocoa Processing Company PLC emerged as the month’s standout gainer, soaring by 50%. Intravenous Infusions PLC followed with a 25% jump, while Trust Bank Gambia PLC and Clydestone Ghana PLC each rose by 10%. Among the blue-chip counters, Scancom PLC (MTN Ghana) gained 9.01%, NewGold advanced 8.16%, and Ghana Oil Company PLC added 7.94%. GCB Bank PLC, Republic Bank Ghana PLC, and Ecobank Ghana PLC also closed the month in positive territory with gains of 5.15%, 4.76%, and 2.73% respectively.
Decliners
On the losing side, Ecobank Transnational Inc. shed 6.10%, Cal Bank PLC fell 5.56%, Unilever Ghana PLC slipped 0.44%, and Access Bank Ghana PLC edged down by 0.12%.
Market Outlook
The near-50% year-to-date gain on the Composite Index points to improved investor appetite for equities, buoyed by falling inflation and a more stable cedi. However, the slight dip in financial stocks indicates continued caution in the banking sector amid evolving regulatory and macroeconomic pressures.
It is expected that the GSE will remain attractive in the short term, especially for investors eyeing undervalued stocks and sectors poised to benefit from Ghana’s gradual economic rebound.
