The Ghana Stock Exchange (GSE) saw continued declines on Wednesday, with the GSE Composite Index (GSE-CI) falling for the second consecutive day. The index dropped by 86.88 points, representing a 1.33% decrease, to close at 6,433.71. This follows Tuesday’s steeper fall of 178.45 points, pushing the two-day total loss to roughly 4%.
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Despite the downturn in index levels, trading activity surged. Share volumes climbed to 742,531, nearly quadrupling the previous day’s figure of 192,578. The total value of trades also jumped to GH¢6.81 million from GH¢4 million, signaling strong investor participation even in a bearish market.
Market capitalization declined in tandem with prices, dropping from GH¢141.40 billion to GH¢140.34 billion.
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| Date | GSE Composite Index (GSE-CI) | GSE Financial Stocks Index (GSE-FSI) |
|---|---|---|
| Previous (20/05/2025) | 6,520.59 | 3,175.40 |
| Current (21/05/2025) | 6,433.71 | 3,172.95 |
| Change | â–¼ 86.88 points | â–¼ 2.45 points |
| YTD Change (2025) | +31.61% | +33.27% |
Financial Stocks Slip Slightly
The GSE Financial Stocks Index (GSE-FSI) registered a marginal decline, easing by 2.45 points or 0.08% to settle at 3,172.95. This was primarily driven by price drops in major financial sector equities.
Cal Bank PLC (CAL) shed 3.12%, closing at GH¢0.62 from GH¢0.64. MTN Ghana (Scancom PLC) fell by 2.38% to GH¢3.28. Meanwhile, TotalEnergies Marketing Ghana PLC (TOTAL) inched up slightly by 0.08% to GH¢24.92.
The standout performer of the day was NewGold (GLD), a gold-backed exchange-traded fund, which gained GH¢5.04 to close at GH¢388.04. It also accounted for the highest value trade of the session, contributing GH¢4.56 million to the day’s total.
Top Traded Stocks by Volume
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Scancom PLC (MTNGH): 655,366 shares, GH¢2.15 million
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Ecobank Transnational Inc. (ETI): 48,449 shares, GH¢43,604
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Cal Bank PLC (CAL): 22,476 shares, GH¢13,990
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NewGold (GLD): 11,741 shares, GH¢4.56 million
Outlook
Even with recent index losses, the GSE Composite Index remains up 31.61% year-to-date, suggesting underlying market resilience. Analysts suggest the current pullback may reflect profit-taking and cautious investor sentiment ahead of upcoming macroeconomic announcements, particularly the Bank of Ghana’s Monetary Policy Committee (MPC) decision.
Last Updated on May 23, 2025 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
