The Ghana Stock Exchange (GSE) kicked off March with a historic trading session on Monday, as a powerful bull run propelled the benchmark index to a record high and pushed market capitalization past the GH¢244 billion mark for the first time.
The GSE Composite Index (GSE-CI) soared by an unprecedented 494.41 points to close at 13,350.54, fueled by heavy buying interest across banking, telecom, and industrial sectors. The gains were broad-based, with the GSE Financial Stocks Index (GSE-FSI) also jumping 375.33 points to settle at 8,068.21.
Investor confidence, buoyed by strong corporate earnings and positive macroeconomic signals, drove market capitalization to GH¢244.52 billion—a significant leap from Friday’s closing figure of GH¢230.25 billion. The session also recorded the highest single-day value traded in recent months, with total turnover hitting GH¢37.75 million from over 4.9 million shares.
MTN Ghana Rockets to All-Time High on Dividend Announcement
Leading the charge was telecommunications giant Scancom PLC (MTNGH), which hit a new all-time high of GH¢5.76 per share. The stock surged by GH¢0.20 on overwhelming demand following the release of its full-year 2025 financial results.
Investors reacted enthusiastically to the company’s robust earnings performance and a declared dividend of GH¢0.40 per share, translating to a dividend yield of approximately 6.94%. MTNGH was the session’s most active stock, with over 2.65 million shares changing hands, accounting for more than half of the day’s total trading volume and contributing over GH¢15.27 million to overall market value.
Banking Sector Leads Broad-Based Rally
The banking sector delivered stellar performances, with several institutions posting double-digit gains. Standard Chartered Bank Ghana PLC (SCB) surged GH¢3.90 to close at GH¢42.95, while GCB Bank PLC (GCB) added GH¢3.76 to end the day at GH¢42.01. Access Bank Ghana PLC (ACCESS) continued its impressive run, appreciating by GH¢3.85 to close at GH¢42.40.
Other notable gainers included:
· Societe Generale Ghana PLC (SOGEGH): +GH¢0.69 to close at GH¢11.09
· Ecobank Transnational Inc. (ETI): +GH¢0.12 to close at GH¢1.32
· Ghana Oil Company Limited (GOIL): +GH¢0.43 to close at GH¢4.78
Consumer and Industrial Stocks Join the Fray
The rally was not confined to financials. Fan Milk PLC (FML) saw significant investor interest, with 839,481 shares traded at a closing price of GH¢15.35. Benso Palm Plantation PLC (BOPP) added GH¢1.40 to close at GH¢74.00, while Guinness Ghana Breweries PLC (GGBL) gained GH¢0.90 to end at GH¢14.65.
In a testament to the market’s strength, no stock closed in negative territory during Monday’s session. A handful of equities, including Cal Bank (CAL) and Agricultural Development Bank (ADB), remained unchanged, but the absence of any losers underscored the widespread buying pressure.
Market Outlook
The GSE-CI has now gained an impressive 52.23% since the start of the year, while the financial stocks index has delivered a staggering 73.62% return. Analysts attribute the sustained rally to improving corporate earnings ahead of the first-quarter reporting season, favourable macroeconomic conditions, and a resurgence of foreign investor interest in Ghanaian equities.
Market watchers will be keenly observing the next trading session to see if the momentum can be sustained or if investors will begin to lock in profits.
