The Ghana Stock Exchange closed Tuesday’s trading session on a mixed note as losses in major counters dragged the broader market lower despite gains in selected equities and a sharp rise in trading value.
The benchmark GSE Composite Index fell by 1.12 per cent to close at 14,379.41 points, trimming its year-to-date return to 63.96 per cent.
In contrast, the GSE Financial Stocks Index edged up by 0.31 per cent to settle at 7,873.87 points, lifting its year-to-date gain to 69.43 per cent.
Market capitalisation also declined to GH¢263.45 billion from GH¢264.74 billion recorded in the previous session, reflecting pressure from declining large-cap equities.
Trading activity, however, improved significantly. Total traded volume surged to 9.25 million shares from 1.02 million shares in the prior session, while total market turnover jumped sharply to GH¢59.47 million from GH¢4.90 million.
MTN Ghana dominates market turnover
MTN Ghana remained the dominant counter on the market, accounting for the bulk of trading activity by both value and volume.
The telecom giant traded 8.84 million shares valued at GH¢57.56 million, representing almost the entire market turnover for the session. Despite the heavy investor activity, MTN Ghana’s share price declined by GH¢0.22 to close at GH¢6.51.
The drop placed significant pressure on the Composite Index and reinforced the company’s influence on broader market direction.
Other decliners included SIC Insurance Company, which shed GH¢0.29 to close at GH¢5.00, while CalBank lost GH¢0.02 to end at GH¢0.73. Fan Milk PLC also slipped marginally by GH¢0.01 to close at GH¢13.32.
NewGold and Zen Petroleum post gains
On the gainers’ chart, NewGold ETF emerged as the strongest performer after advancing by GH¢4.92 to close at GH¢501.92.
Zen Petroleum Holdings also recorded strong gains, rising by GH¢0.83 to close at GH¢11.47, while TotalEnergies Marketing Ghana added GH¢0.09 to settle at GH¢33.00.
Ecobank Transnational Incorporated gained GH¢0.05 to close at GH¢1.39, supported by trading activity valued at more than GH¢183,000.
Analysts say the latest session highlighted the uneven nature of current market sentiment, where strong liquidity continues to coexist with selective profit-taking in large-cap stocks.
Investors monitor dividend payouts
Investor attention is also shifting toward upcoming dividend payments from several listed companies.
GCB Bank PLC is expected to pay a dividend of GH¢1.00 per share on June 30, while Republic Bank Ghana is scheduled to pay GH¢0.05 on June 1. MTN Ghana will pay GH¢0.03 on June 18, with Fan Milk and Ghana Oil Company expected to pay GH¢0.11 and GH¢0.06 respectively later in the year.
Market observers say the next trading session will determine whether bargain hunting returns to MTN Ghana or whether profit-taking pressure continues to weigh on investor sentiment.
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