Banks Drive Market Optimism as GSE Extends Strong 2025 Run
The Ghana Stock Exchange maintained its upward momentum in November, with bank stocks anchoring investor optimism and pushing market returns deeper into positive territory despite a slowdown in monthly trading activity.
The benchmark GSE Composite Index rose by 2.68 percent to close at 8,610.15 points, taking its year-to-date gain to over 76 percent. Financial stocks remained the standout performers. The GSE Financial Stock Index advanced by 6.26 percent in the month, extending its year-to-date return to more than 87 percent, underlining the central role banks are playing in the market’s resurgence.
Trading activity eased compared with October, but the broader trend remained encouraging. About 38.6 million shares worth GH¢192.5 million were exchanged during the month. While this marked a decline on a month-on-month basis, year-on-year figures told a stronger story, with both volumes and values rising sharply, signalling growing investor participation and confidence in equity valuations.
Market gains were driven by a handful of strong performers. Clydestone (Ghana) PLC topped the gainers with a 64 percent rise, followed by Ecobank Ghana, which climbed 49 percent. Societe Generale Ghana, Cocoa Processing Company, Benso Palm Plantation and GCB Bank also recorded solid gains, reflecting renewed interest across financial, industrial and agribusiness stocks.
Losses were largely selective. CalBank and Ecobank Transnational Incorporated posted notable declines, while a few other counters recorded marginal drops, suggesting investors are repositioning rather than exiting the market.
Activity on the Ghana Fixed Income Market mirrored this cautious optimism. Although trading volumes declined in November compared with the previous month, year-to-date turnover rose strongly, driven mainly by Treasury Bills and government bonds. This points to investors balancing higher-risk equity positions with the relative safety of sovereign instruments.
Attention now turns to December, with the anticipated listing of First Atlantic Bank PLC expected to deepen the financial sector on the Exchange and potentially sustain market momentum into the end of the year.
Overall, November’s performance reinforces a clear message: confidence is gradually returning to Ghana’s capital market, with banks leading the recovery and investors showing a growing appetite for risk amid improving market sentiment.
